IMPRESSION DHP (02695) Enters Asset Buyback Agreement for Wuyishan Project

IMPRESSION DHP (02695) announced that, to expedite project implementation, the acquirer Wuyishan Impression Dahongpao Cultural Tourism Co., Ltd. and the seller Fujian Spring Catering Management Co., Ltd. entered into an asset buyback agreement on February 9, 2026. Under the terms and conditions of the agreement, the acquirer agreed to purchase, and the seller agreed to sell, certain fixed assets. The consideration for the prior acquisition was RMB 13.1259 million, determined through fair negotiation between the acquirer and the seller with reference to a valuation. The assets to be acquired by the acquirer from the seller include the construction and installation works, decoration works, as well as ancillary and supporting facilities of the Impression Tianjie (Impression Jianzhou) project. These assets are located at the Dahongpao Experience Center, Tea Expo Garden, No. 96 Dawangfeng South Road, Wuyishan Resort, Wuyishan City, Fujian Province. In October 2020, the seller and the acquirer signed the "Impression Tianjie Project Cooperation Agreement." Based on this cooperation agreement and its investment, the seller obtained the corresponding rights to the target assets and related cooperative operation rights. Considering the seller's operational results, the acquirer has terminated the cooperation agreement with the seller. The acquirer will undertake redevelopment and improvement of the Impression Tianjie (Impression Jianzhou) project with a new partner. To ensure the smooth launch of the new project, guarantee its operational independence and integrity, and achieve the company's investment return targets as planned, the company decided that the acquirer would repurchase the target assets based on the results of an independent third-party professional valuation. The prior acquisition was based on considerations for long-term strategic development, aligns with the needs of the company's development plan, is conducive to optimizing the company's resource allocation, and is in the interests of all shareholders.