Accelerated the development of China Hongtai's development of China's Hongtai business section accelerated development of the first property.

On June 17, China Jinmao's underwriting Jinmao Property Service Development Co., Ltd. (00816.HK) issued an announcement saying that its wholly -owned subsidiary invested in RMB 450 million to start the first real estate subsidiary Property Service Co., Ltd.(Hereinafter referred to as the first property) 100%equity.The previous week, China Jinmao announced the privatization of China's Hongtai Development (6166.HK, hereinafter referred to as Hongtai).

It is reported that Hongtai takes the industrial construction, park operations and infrastructure investment as its core business. At present, it has 5 development of production and city projects, and its core assets are deployed in the Beijing -Tianjin -Hebei region.The first property is a comprehensive property management service provider. The business covers 22 cities in 19 provinces. As of the end of 2021, there are 53 contracts and locking projects, with a contract and lock area of 7.11 million m².

Through the above actions, China Jinmao will obtain multiple urban operation projects and further expand the size of its property service sector and the combination of property.The integration of high -quality asset packages will further enhance China's business scale and comprehensive capabilities in the field of urban operations.

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