Spring Real Estate Investment Trust announced unaudited operating results for the quarter ended 30 June 2023. For the quarter, the CCP Property achieved an average monthly passing rent of approximately RMB 350 per square meter ("sqm"), remaining unchanged compared to the previous quarter, and the average occupancy rate was approximately 91%, representing a increase of 1% from that of the previous quarter. the Huizhou Property achieved an average monthly rent of approximately RMB 160 per sqm, of which the fixed component amounted to RMB 138 per sqm (1Q 2023: RMB 136 per sqm) and variable component amounted to RMB 22 per sqm (1Q 2023: RMB 35 per sqm), representing a decrease of 6.5% from that of the previous quarter, and the average occupancy rate was approximately 96%, remaining unchanged compared with that of the previous quarter.