CIFI Holdings (Group) Co. Ltd. announced that on August 2, 2021, the company, together with its subsidiaries, namely Chongqing Hezhiqi, Chongqing Changhe and Chongqing Project Company entered into the Chongqing Cooperation Agreement with Henderson China Investment and Boham Estate, both indirect wholly-owned subsidiaries of Henderson Land, for the formation of joint venture announcement, Chongqing Project Company is owned as to 99% by Chongqing Hezhiqi and as to 1% by Chongqing Changhe. Pursuant to the Chongqing Cooperation Agreement, Boham Estate proposes to acquire 50% of equity interest in Chongqing Project Company by way of capital increase. Upon the completion of the capital increase, Chongqing Project Company will be owned as to 50% by the Company (through Chongqing Hezhiqi and Chongqing Changhe) and 50% by Boham Estate. Chongqing Project Company will be consolidated into the financial statements of the Group and will undertake the development of the Chongqing Site. The capital commitment currently intended to be payable by the Group for the transactions contemplated under the Chongqing Cooperation Agreement is estimated to be RMB 1,000 million.