Sinyi Realty : Announcement of the chage of the date of completion of Merger (short-form merger) with the Company's subsidiary

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Provided by: Sinyi Realty Inc.
SEQ_NO	1	Date of announcement	2022/07/11	Time of announcement	20:18:54
Subject	Announcement of the chage of the date of completion of Merger (short-form merger) with the Company's subsidiary
Date of events	2022/07/11	To which item it meets	paragraph 11
Statement	1.Type of merger and acquisition (e.g.merger, spin-off, acquisition, or share transfer):merger 2.Date of occurrence of the event:2022/07/11 3.Names of companies participating in the merger and acquisition (e.g., name of the other company participating in the merger, newly established company in a spin-off, acquired company, or company whose shares are transferred): Sinyi Realty Inc. and Sinyi Real Estate Consulting Limited 4.Trading counterparty (e.g., name of the other company participating in the merger, company spinning off, or trading counterparty to the acquisition or share transfer):Sinyi Real Estate Consulting Limited 5.Whether the counterparty of the current transaction is a related party: Yes 6.Relationship between the trading counterparty and the Company (investee company in which the Company has re-invested and has shareholding of XX%), explanation of the reasons for the decision to acquire from or transfer shares to an affiliated enterprise or related party, and whether it will affect shareholders' equity:Sinyi Real Estate Consulting Limited is a 100% own subsidiary of Sinyi Realty Inc. For the purpose of resource consolidation, a short-form merger is commenced in accordance with Article 19 of Merger and Acquisition Law and has no impact on the shareholders' equity. 7.Purpose of the merger and acquisition: The Company aims for resource consolidation. 8.Anticipated benefits of the merger and acquisition: For better resource consolidation. 9.Effect of the merger and acquisition on net worth per share and earnings per share: In order to integrate resources and improve operational efficiency, the Company shall execute short-form merger with Sinyi Real Estate Consulting Limited in accordance with Article 19 of the Enterprise Mergers and Acquisitions Law without affecting shareholders' equity. It has no impact on NAV and EPS. 10.Follow-up procedures for mergers and acquisitions, including the time and method of payment of the consideration for mergers and acquisitions, etc.: no 11.Types of consideration for mergers and acquisitions and sources of funds: no 12.Share exchange ratio and calculation assumptions: not applicable. 13.Whether the CPA, lawyer or securities underwriter issued an unreasonable opinion regarding the transaction: not applicable. 14.Name of accounting, law or securities firm: not applicable. 15.Name of CPA or lawyer: not applicable. 16.Practice certificate number of the CPA: not applicable. 17.The content of the independent expert opinion on the reasonableness of the share exchange ratio, cash or other assets allotted to shareholders in this merger and acquisition: not applicable. 18.Estimated date of completion: 2022.08.31. The completion date is authorized to our president of the Company and the representative participating in the merger to decide if there are any changes needed. 19.Matters related to the assumption of corporate rights and obligations of the dissolving company (or spin-off) by the existing or newly-established company: After the merger takes effect, the assets and liabilities of the eliminated company are still valid as of the completion date. All rights and obligations shall be assumed by the surviving company in accordance with the law. 20.Basic information of companies participating in the merger: 1.Sinyi Realty Inc.(surviving company) Major business scope: real estate agency and other relevant business 2.Sinyi Real Estate Consulting Limited (dissolved company) Major business scope: making instructions of real estate 21.Matters related to the spin-off (including estimated value of the business and assets planned to be transferred to the existing company or new company.The total number of shares to be acquired by the spun-off company or its shareholders, and their respective types and no.Matters related to the reduction, if any, in capital of the spun-off company)(note: not applicable for announcements unrelated to spin-offs):not applicable 22.Conditions and restrictions for future transfer of shares resulting from the merger and acquisition:not applicable 23.The plan after the merger and acquisition is completed: not applicable 24.Other important terms and conditions: The important provisions of the merger and the details of the relevant matters shall be handled in accordance with the relevant regulations, in addition to the announcement in accordance with the law. 25.Other major matters related to the mergers and acquisitions: not applicable 26.Any objections from directors to the transaction: none 27.Information on interested directors involved in the mergers and acquisitions:not applicable 28.Whether the transaction involved in change of business model:not applicable 29.Details on change of business model:not applicable 30.Details on transactions with the counterparty for the past year and the expected coming year:not applicable 31.Source of funds:not applicable 32.Any other matters that need to be specified:The Chairman of the company and the representatives of the companies participating in the merger agreed to change the date of completion to August 31, 2022.