skylandersimaginatorscrashbandicoot| Joy City Real Estate (00207.HK): The proposed spin-off involves the transfer of all equity interests in the new project company by Zhuoyuan Real Estate (Chengdu) to Consumer Infrastructure REIT

Gelonghui May 24 丨 Joy City (000031) Real Estate (00207skylandersimaginatorscrashbandicoot.HK) issued an announcementskylandersimaginatorscrashbandicootOn May 24, 2024, China Asset Management Fund and CITIC Securities (600030) submitted application materials for the registration and listing of consumer infrastructure REIT to the China Securities Regulatory Commission and the Shenzhen Stock Exchange.

The proposed spin-off involves the transfer of the entire equity interest of the new project company (holding the project) by the project company Zhuoyuan Real Estate (Chengdu) Co., Ltd.(an indirect wholly-owned subsidiary of the company) to Consumer Infrastructure REIT, and the project company's subscription of the Consumer Infrastructure REIT Fund. 40% of the total share. The project includes a shopping center and parking space located on Dayue Road, Wuhou District, Chengdu City, China. As of the date of this announcement, its entire interest is held by the new project company. After the proposed spin-off is completed, Consumer Infrastructure REIT will indirectly hold the entire interest in the project, and the company will indirectly hold 40% of the total share of the Consumer Infrastructure REIT Fund through the project company, and the company's indirect interest in the project will be reduced to 40%. Therefore, upon the completion of the proposed spin-off, the financial results of the project will no longer be consolidated in the Group's financial statements.

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