C&D INTL GROUP and C&D PROPERTY Announce Memorandum of Understanding for Proposed Full Acquisition of Lianfa Property and C&D City Services

C&D INTL GROUP (01908) and C&D PROPERTY (02156) have jointly announced that on April 10, 2026 (after trading hours), Xiamen Yirui, a subsidiary of both companies, entered into a memorandum of understanding with the sellers regarding the potential acquisition of 100% equity in the target companies, Lianfa Property and C&D City Services. Each of the sellers is a connected person of both C&D INTL GROUP and C&D PROPERTY.

C&D City Services is primarily engaged in urban public services and urban space operations. Lianfa Property mainly conducts property management business in China, providing residential and commercial property management services primarily for properties developed by Xiamen Lianfa and its affiliates.

C&D INTL GROUP and C&D PROPERTY believe that by acquiring C&D City Services, C&D PROPERTY will expand its urban services business segment, advancing from community services to city-wide services. This move will diversify its main business operations and enrich its revenue sources. Through the acquisition of Lianfa Property, C&D PROPERTY will increase its managed area for property management operations, enhance its management density in core cities, and achieve greater economies of scale, thereby helping to boost the revenue and profitability of its property management business.

The proposed integration is intended to further strengthen C&D PROPERTY's competitive advantages and sustainable development capabilities, accelerate the construction of a comprehensive large-scale property service system, and create more stable and continuous value returns for all shareholders.

C&D INTL GROUP and C&D PROPERTY consider the terms of the memorandum of understanding to be fair and reasonable, and believe the potential acquisitions align with the overall interests of both companies and their respective shareholders.