On January 27, 2026, the 2nd interim board meeting of the year for Poly Developments And Holdings Group Co.,Ltd. deliberated and passed the "Proposal on Carrying out the Application and Issuance of Commercial Real Estate REITs and Related Authorization Matters."
In response to policy calls such as the "CSRC Announcement on Launching the Pilot Program for Commercial Real Estate Investment Trusts" and the "Notice on Promoting the High-Quality Development of the Real Estate Investment Trusts (REITs) Market," and to further build the company's professional capabilities in real estate operations, optimize its capital structure, and enhance its core competitiveness and sustainable development capabilities, the company plans to use its held commercial real estate projects as underlying assets to initiate the application and issuance of a commercial real estate investment trust fund.
The issuance of these commercial real estate REITs does not constitute a connected transaction, nor does it constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Reorganizations of Listed Companies."
The planned selected target assets for issuing the commercial real estate REITs are the Guangzhou Poly Center project and the Foshan Poly Water City project. The Guangzhou Poly Center project is an office building development in Zhujiang New Town, Tianhe District, Guangzhou, held by the company's wholly-owned subsidiary, Guangzhou Ruizhi Enterprise Management Co., Ltd.; the Foshan Poly Water City project is a shopping center project located in Foshan's financial CBD, held by the company's wholly-owned subsidiary, Foshan Baocheng Enterprise Management Co., Ltd.
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