Onewo Inc. (2602) Announces Supplementary Arrangement on Disclosable and Connected Transactions and Receives Asset Pledge

Onewo Inc. (2602) announced a supplementary arrangement regarding the equity transfers of Shanghai Xiangda Real Estate Development Co., Ltd. and Hangzhou Wanyu Property Co., Ltd., following earlier disclosures on November 29, 2024; March 31, 2025; and July 30, 2025. These arrangements involve Onewo Business Enterprise Space Technology, Hangzhou Puyu Real Estate, and related parties including China Vanke Co., Ltd. and its subsidiaries.

Under the supplementary agreement dated October 27, 2025, Onewo Business Enterprise Space Technology is set to pay RMB36 million to Shanghai Vanke Investment, while Hangzhou Puyu Real Estate will pay RMB53.989 million to Hangzhou Hongwang Investment and Hangzhou Dongxue Investment. The payments will accrue annual interest at 2.34%. Within 12 months of receipt, the same amounts plus interest are expected to be settled according to the original terms.

In addition, Nanjing Tongsheng Real Estate Development Co., Ltd., a wholly owned subsidiary of China Vanke, will provide collateral valued at RMB171.45 million. This includes a mortgage over certain commercial and office properties plus receivables. The pledged commercial property was assigned a value using discounted cash flow modeling, while the office property was valued by reference to average sales prices and rental rates of similar assets in the surrounding area.

Because China Vanke is the controlling shareholder of Onewo Inc. and each vendor is a wholly owned subsidiary of China Vanke, the supplementary arrangement constitutes a connected transaction under the Hong Kong Listing Rules. The applicable percentage ratios exceed 0.1% but are below 5%, making the arrangement subject to reporting and announcement requirements without the need for circular issuance or independent shareholders’ approval.

The board of directors, excluding three non-executive directors who abstained due to connections with China Vanke, believes the revised payment and pledge provisions are on normal commercial terms and do not present material adverse impacts on the company’s cash flow or liquidity. The parties will complete the requisite pledge registration formalities according to the agreement, with the mortgage term set at 24 months and extensions if needed.