Yunnan City Investment 2022 Major Asset Restructuring: Partial Delivery Completed, Partial Pending Advancement

Yunnan City Investment Real Estate announced the progress of its major asset restructuring in 2022. The company is selling equity in several subsidiaries through public listing, which constitutes a related party transaction. From April to December 2022, the company advanced various review and inquiry response tasks, ultimately determining the transferee of the target assets. As of now, all equity and debt payments from 11 target companies, including Kunming Chenghai, have been recovered, totaling approximately 4.446 billion yuan, with 250 million yuan recovered from Dongfang Baifeng's equity and 506 million yuan from debt. Ten companies have completed industrial and commercial registration changes. Four companies, including Taizhou Commercial, have not yet completed industrial and commercial changes, and Hainan Tianli Development and Ningbo Fenghua have not completed equity delivery. The company stated that it has transferred the management rights of Taizhou Commercial and Hangzhou Xixi's equity and will continue to advance subsequent work, reminding investors to pay attention to information from designated media and investment risks