Jinke Property Group Co., Ltd. (SZSE:000656) agreed to acquire 50.1% of the equity interests Yueyang Dingyue Real Estate Development Co., Ltd from Midea Real Estate Holding Limited (SEHK:3990) for RMB 84 million on March 7, 2022. The Yueyang Disposal Consideration is RMB84,148,200 being the aggregate Yueyang Disposal Novation Loan of RMB 24,148,200 by the Yueyang Disposal Purchaser which shall be deemed to be completed upon registration of the transfer of the Yueyang Disposal Target Equity Interests with the competent local authorities. As such, the Yueyang Disposal Net Consideration receivable by the Yueyang Disposal Vendor under the Yueyang Disposal is RMB60,000,000.

Nelson Tang of Hogan Lovells International LLP acted as a legal advisor to Midea Real Estate Holding Limited.