Kang Wei agreed to acquire Tianhe Property Development Limited from Peking University Resources (Holdings) Company Limited (SEHK:618) and Wuhan Zhengxin State-owned Assets Management Co., Ltd. for HKD 1 million on May 11, 2023. As per agreement, Kang Wei shall pay consideration amount of HKD 1 million within 90 days from the date of Equity Transfer Agreement. The net proceeds from the Disposals will be used as general working capital of the Group. The completion of the sale and purchase of Tianhe Property Development shall be taken place on the date of Equity Transfer Agreement.

Kang Wei completed the acquisition of Tianhe Property Development Limited from Peking University Resources (Holdings) Company Limited (SEHK:618) and Wuhan Zhengxin State-owned Assets Management Co., Ltd. on May 11, 2023.