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201September 17, Shenzhen Property Resources Development (Group) Co., Ltd. (the Company) and its controlling shareholder Shenzhen Investment Holding Co., Ltd. signed the Asset Replacement Agreement. The company plans to replace some idle and inefficient properties held by the company and its holding subsidiary Shenzhen Huangcheng Real Estate Co., Ltd. with Wanyue T 102-0237 held by Shenzhen Investment Holding Block, Shenzhen Investment Holding Co., Ltd. held by Shenzhen Shen Xin Taxi Co., Ltd. and Shenzhen Yingbin Hotel Co., Ltd., a wholly-owned subsidiary of Shenzhen Investment Holding Co., Ltd., holding a total of 100% equity.

Through negotiation between both parties, it is determined that the company's purchase price of assets is RMB 306.563 million, and the purchase price of assets is RMB 30.4094 million. The difference between the acquired assets and the acquired assets is 2,472,900 yuan, and Shenzhen Investment Holdings will pay the company the same amount of cash.

Recently, in order to actively promote the development and construction of Dinghu District in Zhaoqing City and build an ecological space with higher-end industries, more concentrated resources, wider space and more beautiful environment, the three parties, based on the principle of "complementary advantages, mutual benefit, equal cooperation, pragmatic and efficient, and * * * common development", focused on the goals of urban construction, industrial development, strengthening the training of state-owned assets and enterprise talents in Dinghu District, leveraged the company's efforts in the development and operation of industrial projects and urban complexes.

Through friendly negotiation, the Company signed the Framework Agreement for Comprehensive Strategic Cooperation with the People's Government of Dinghu District, Zhaoqing City and Zhaoqing Branch of Bank of Communications Co., Ltd., Dinghu District, Zhaoqing City, Guangdong Province.

Shenzhen Property A belongs to Shenzhen Property Development (Group) Co., Ltd., and its legal representative is Liu Shengxiang with a registered capital of 595.97 million yuan. Its address is 42nd Floor, 39th Floor, Guomao Building, Renmin South Road, Luohu District, Shenzhen. Its business scope is: real estate development and commercial housing sales, commercial housing construction and management, housing leasing and construction supervision. Domestic commercial and material supply and marketing industries (excluding commodities that are monopolized, monopolized and controlled).