An undisclosed buyer signed a letter of intent to acquire Hangzhou Lu Yun Property Limited from Jiu Rong Holdings Limited.

An undisclosed buyer signed a letter of intent to acquire Hangzhou Lu Yun Property Limited from Jiu Rong Holdings Limited (SEHK:2358) on June 28, 2024. Pursuant to the Letter of Intent, within 3 days after signing the Letter of Intent, the Buyer shall pay Jiu Rong Holdings Limited (SEHK:2358) an advance payment of approximately CNY 170 million.