Shenzhen Investment Limited Reports Unaudited Group Contracted Sales for October and November and year to date of 2023. For the period, Group's contracted sales increased sharply in October 2023 with unaudited contract sales amounted to approximately RMB 4.038 billion, representing an increase of 170.6% MoM and an increase of 45.8% YoY. The contracted sales area was approximately 102,655 sq.m., up 131.1% MoM and up 47.6% YoY. The projects with good performance included Upper Coast in Shenzhen Qianhai which recorded contracted sales of residential and talent housing of approximately RMB 2.20 billion, and Park Mansion in Shenzhen Guangming which recorded contracted sales of talent housing of approximately RMB 680 million.

The Group's unaudited contracted sales for November 2023 amounted to approximately RMB 657 million, representing a decrease of 83.7% MoM and a decrease of 42.5% YoY. The contracted sales area was approximately 26,203 sq.m., down 74.5% MoM and down 38.0% YoY. In late November, the Metropolis Project located in Shanghai Jiading was launched and performed well at the opening. The total subscription amount on the first day was approximately RMB 700 million. The portion of the amount that has been subscribed but not signed is being gradually booked as contracted sales amount.

For the first 11 months of 2023, the Group recorded unaudited total contracted sales of approximately RMB 23.826 billion, representing an increase of 117.2% YoY, and the total contracted sales area was approximately 602,372 sq.m., up 51.8% YoY. The average selling price was approximately RMB 39,554 per sq.m. The major contracted sales will be progressively booked as revenue over the next two years.