Is there a relationship between Sunac and Rongtong?

There is no direct relationship between the two.

Sunac and Rongtong are two different companies. Sunac Real Estate is a well-known real estate development enterprise in China, located in Tianjin, mainly engaged in real estate development, property management and cultural tourism industry.

China Rongtong Asset Management Group Co., Ltd. is a wholly state-owned commercial company directly managed by the central government. The State Council State-owned Assets Supervision and Administration Commission (SASAC) performs the responsibilities of investor, and its business scope mainly includes real estate, agriculture, hotels and tourism, business services, resource recycling, scientific and technological services, education and other fields.