Shanghai Industrial Development: Intends to sell part of the products of Quanzhou project with an estimated revenue of approximately 2.053 billion yuan.

Announcement from Shangshi Development: Its wholly-owned subsidiary, Quanzhou Shangshi Investment Development Co., Ltd., intends to transfer and sell a portion of the products of Shangshi Haishang Project in Fengze District, Quanzhou City, Fujian Province, including residential properties, supporting property rights parking spaces, and ongoing construction projects, through an agreement. The buyers are Quanzhou Kaiyuan Real Estate Group Co., Ltd.'s wholly-owned subsidiaries, Quanzhou Zhenyuan Industrial Investment Co., Ltd. and Quanzhou Xinyuan Industrial Investment Co., Ltd., with a total transaction price of approximately 2.053 billion RMB. The income generated from this transaction is expected to account for about 75.51% of the company's audited operating income for the year 2024.