1.Date of the board of directors resolution:2023/08/10
2.Reason for capital reduction:In line with the group's capital planning,
Sinyi Estate (Hongkong) Limited, a 100% indirectly held subsidiary
of the Company, intends to reduce share capital.
3.Amount of capital reduction:US$60,000 thousand
4.Cancelled shares:Not applicable
5.Capital reduction percentage:28.98%
6.Share capital after capital reduction:US$147,011 thousand
7.Scheduled date of the shareholders meeting:2023/08/10
8.Estimated no.of listed common shares after issuance of new shares
upon capital reduction:Not applicable
9.Estimated ratio of listed common shares after issuance of new shares upon
capital reduction to outstanding common shares:Not applicable
10.Please explain any countermeasures for lower circulation in
shareholding if the aforesaid estimated no.of listed common shares upon
capital reduction does not reach 60 million and the percentage does not
reach 25%:Not applicable
11.The record date for capital reduction:Not applicable
12.Any other matters that need to be specified:
(1)This proposal is based on the Company's 100% indirectly held
subsidiary's capital reduction announced on the Aug. 4th 2023,
which was the fact that Jiu Xin Estate (Wuxi) Limited's cash capital
reduction and remittance at the amount of US$60,000 thousand(remitted in
RMB), and the following planning.
(2)The above-mentioned fund through the current investment structure,
Sinyi Estate (Hong Kong)Limited decreases capital by equal amount and
remits the funds to Sinyi Estate Ltd., its parent company.
Then, Sinyi Estate Ltd. decreases the capital by the same
amount in cash and remits the funds to its parent company Sinyi
International Limited, for the overall use of the group.
Except if due to the impact of exchange rate fluctuations,
the actual remittance amount might not be enough for the remittance
of US$ 60,000 thousand, the board would approve or authorize the chairman
to make a resolution to adjust the amount of capital reduction, the
Company shall announce the actual amount of capital reduction.
(3)Sinyi Estate Ltd. is an major subsidiary of the Company, the capital
reduction of the above-mentioned companies describes the same event,
The date of resolution of the board of directors and the expected
date of the shareholders’ meeting of the remaining subsidiaries are
the same. Therefore, we announced these together to provide investors with
overall understanding of how these work.
(4)Sinyi Estate Ltd. eliminates 60,000 thousand shares; capital
reduction ratio: 28.78%;
Share capital after capital reduction: USD 148,511 thousand;
the record date for capital reduction: Not applicable
(5)Plan for expected share replacement operations:Not applicable
(6)Record date of replacement of shares:Not applicable
(7)Book closure starting date:Not applicable
(8)Book closure ending date:Not applicable
(9)Rights and obligations of the new shares after capital reduction:
Same as the original issued shares.
(10)Anticipated listing date for the new shares:Not applicable

1. Governance News
2. ESG News