According to the announcement from Zhitong Finance APP, TJSUD (600322.SH) announced that, as per a previous announcement, the company officially listed the transfer of 60% equity in Tianji Company at a starting price of 299.15736 million yuan on the Tianjin Property Rights Exchange on March 30, 2022, based on the evaluation results filed with the state-owned assets regulatory authority. The company will sign a transaction agreement based on the results of the public listing, and the main contents of the agreement, including the final counterparty, transaction price, and payment method, shall be subject to the transaction agreement. As of now, the parties involved have not formally signed the relevant equity transfer agreement, and the related transaction has not been implemented.

During the process of advancing the transaction, both parties communicated further regarding the transaction plan, but ultimately did not reach a consensus on the relevant matters. The company has re-planned the proposed equity transfer. After friendly consultations, careful research, and thorough demonstration by both parties, and from the perspective of safeguarding the interests of the company and its shareholders, it was decided to terminate this transaction. The company held the 23rd temporary board meeting of the 11th session on December 26, 2024, and approved the proposal to terminate the transfer of 60% equity in its controlling subsidiary Tianjin Tianji Real Estate Development Co., Ltd