Excellence Commercial Property & Facilities Management Group Limited (SEHK:6989) entered into an agreement to acquire 75% stake in Beijing Global Wealth Property Management Co., Ltd from Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd for approximately CNY 230 million on April 1, 2021. Pursuant to the terms of the agreement, Excellence Commercial Property & Facilities Management Group Limited will acquire 30% stake from Beijing Shiyuan Guanghua Real Estate Development Co., Ltd, whereas 45% stake from Beijing Guanghua Road No. 5 Trading Co., Ltd. CNY 112.5 million as first instalment shall be payable by Excellence Commercial Property & Facilities Management Group Limited to Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd within 10 Working Days upon written confirmation issued by Excellence Commercial Property & Facilities Management Group Limited on the fulfillment of applicable conditions. CNY 67.5 million as second instalment shall be payable by Excellence Commercial Property & Facilities Management Group Limited to Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd within 10 Working Days upon written confirmation issued by Excellence Commercial Property & Facilities Management Group Limited on the fulfillment of applicable conditions. RMB45.0 million as third instalment shall be payable by Excellence Commercial Property & Facilities Management Group Limited to Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd, within 6 months after completion date (the “6-month Adjustment Period”) or 10 working days upon written confirmation issued by Excellence Commercial Property & Facilities Management Group Limited on the fulfillment or waiver (as the case may be) of applicable conditions. The consideration will be paid in cash and shall be settled using net proceeds raised from the global offering which were allocated for the purpose of strategic acquisitions and investments. If the revenue for a relevant period is less than guaranteed revenue for the relevant period, then the Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd , the guarantor and the remaining shareholder shall pay to Beijing Global Wealth Property Management Co., Ltd a compensation amount equivalent to the difference between the actual revenue and the guaranteed revenue. However if Beijing Global Wealth Property Management Co., Ltd increases its fees of all property management services by 10% before December 31, 2021, the above guarantee by Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd , the guarantor and the remaining shareholder on the guaranteed revenue in the four financial years ending December 31, 2025 shall be waived. For the year ended December 31, 2020, Beijing Global Wealth Property Management Co., Ltd reported profit before tax of CNY 37.8 million, profit after tax of CNY 28.3 million and unaudited net assets of CNY 58.9 million. Completion takes place upon fulfillment of condition precedent (b) to the first instalment of the consideration.

Excellence Commercial Property & Facilities Management Group Limited (SEHK:6989) completed the acquisition of 75% stake in Beijing Global Wealth Property Management Co., Ltd from Beijing Shiyuan Guanghua Real Estate Development Co., Ltd and Beijing Guanghua Road No. 5 Trading Co., Ltd in January 2022.