Shenyang Public Development Co., Ltd. (00747) has completed the acquisition of a 51% stake in Guangzhou Zhudao Property Management Company.

Shenyang Public (00747) announced that on February 28, 2025, the buyer Shenzhen Wanzi Hotel Apartment Management Co., Ltd. (a indirectly wholly-owned subsidiary of the company) and the seller Beijing Jiuzhou Technology Co., Ltd. entered into a share transfer agreement. According to this agreement, the buyer conditionally agrees to purchase and the seller conditionally agrees to sell the 51% equity of the target company for a total of RMB 550,000. All the prerequisites under the share transfer agreement have been met and the transaction was completed on July 23, 2025. After completion, the target company will be owned by the buyer, the seller and Beijing Wanzhong Runhua owning 51%, 14% and 35% of the equity respectively. After completion, the target company and its non-wholly owned subsidiary Shijiazhuang Runhua will become subsidiaries of the company. Therefore, the financial performance of the target group will be consolidated into the comprehensive financial statements of the group.