1.Date of the board of directors resolution:2024/01/15
2.Reason for capital reduction:In order to align with the Group’s
aggregate capital planning, the wholly indirectly owned subsidiary
Sinyi Real Estate (Shanghai) Co., Ltd.,etc. shall conduct capital
reduction by US$ 17,000 thousand in cash.
3.Amount of capital reduction:US$ 17,000 thousand
4.Cancelled shares:NA
5.Capital reduction percentage:58.62%
6.Share capital after capital reduction:US$12,000 thousand
7.Scheduled date of the shareholders meeting:2024/01/15
8.Estimated no.of listed common shares after issuance of new shares
upon capital reduction:NA
9.Estimated ratio of listed common shares after issuance of new shares upon
capital reduction to outstanding common shares:NA
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%:NA
11.The record date for capital reduction:NA
12.Any other matters that need to be specified:
(1)Sinyi Real Estate (Shanghai) Limited decreases capital by
US$17,000 thousand in cash and remits its funds to its parent company
Sinyi Real Estate (Hong Kong) Limited. Then Sinyi Real Estate (Hong Kong)
Limited decreases capital by equal amount and remits the funds to
Sinyi Development Ltd., the parent company.
Finally, Sinyi Development 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.
(2)Sinyi Real Estate (Shanghai) Co., Ltd., Sinyi Real Estate (Hong Kong),
Sinyi Development Ltd. are all the major subsidiaries of the Company.
The whole capital reduction plan of the three above-mentioned companies
describes the same event. The date of the resolution of the board of
directors of the capital reduction and the date
of the expected shareholders meeting are the same.
We therefore jointly issue the material announcement.
(3)Sinyi Real Estate (Hong Kong) reduces 17,000 thousand shares.
The capital reduction ratio of which is 57.35%;
the capital after the above plan is US$12,640 thousand;
the record date is not applicable.
(4)Sinyi Development Ltd. shall reduce 17,000 thousand shares.
The capital reduction ratio of which is 53.96%;
the capital after the above plan is US$14,506 thousand; the record date
is not applicable.
(5)Plan for capital reduction and replacement of shares:NA
(6)Record date of replacement of shares:NA
(7)Book closure starting date:NA
(8)Book closure ending date:NA
(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:NA

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