According to the announcement from Zhongxin Group (601512.SH), the company held the 13th meeting of the sixth board of directors on July 5, 2024, and approved the proposal regarding the phased disposal of Zhongxin Heshun through equity transfer by Zhongxin Zhidi. The company authorized its holding subsidiary, Zhongxin Zhidi Suzhou Industrial Park Co., Ltd. (referred to as "Zhongxin Zhidi"), to transfer 100% equity of Zhongxin Suzhou Industrial Park Heshun Commercial Investment Co., Ltd. (referred to as "Zhongxin Heshun") in phases through public listing transfer/agreement transfer (state-owned assets), with the initial transfer ratio not exceeding 60% of the total equity (tentatively 51%), planned to be completed in 2024. The remaining equity will be transferred in 2025.

After communication with relevant market-oriented institutions and considering the project's scarcity, Zhongxin Zhidi intends to enhance the overall operation of the commercial street at No. 36 Shuifang Road (promotional name: Xing Shang Lin Li) held by Zhongxin Heshun through optimization and enhancement of project rent, asset securitization, and other methods to achieve effective asset management. Therefore, the company decided to terminate the transfer of 100% equity of Zhongxin Heshun. The company held the 20th meeting of the sixth board of directors on December 30, 2024, and approved the proposal to terminate the implementation of the equity transfer of Zhongxin Heshun. It agreed to allow Zhongxin Zhidi to terminate the implementation of the equity transfer of Zhongxin Heshun and authorized the management of Zhongxin Zhidi to sign relevant documents and handle all related procedures