CH OVS G OCEANS (00081) has announced that on March 30, 2026, China Overseas Hefei (an indirect wholly-owned subsidiary of the company), Shenzhen Chuanggu, China Overseas Hongyang Real Estate, Ping An Real Estate, Hefei Project Company One (Hefei China Overseas Hongyang Haisheng Real Estate Development Co., Ltd.), and Hefei Project Company Two (Hefei China Overseas Hongyang Haichen Real Estate Development Co., Ltd.) entered into an acquisition agreement. Under the agreement, China Overseas Hefei intends to acquire from Shenzhen Chuanggu the target equity interests, which include: (a) Equity One, representing 40% of the total equity in Hefei Project Company One; and (b) Equity Two, representing 40% of the total equity in Hefei Project Company Two, along with shareholder loans, for a total consideration of approximately RMB 104 million.

As of the date of this announcement, China Overseas Hefei and Shenzhen Chuanggu hold 60% and 40% equity interests, respectively, in both Hefei Project Company One and Hefei Project Company Two. Hefei Project Company One is primarily engaged in the development of Hefei Project One, located in Hefei City, Anhui Province, China. Hefei Project Company Two is primarily engaged in the development of Hefei Project Two, also located in Hefei City, Anhui Province, China.

Upon completion of the acquisition, the company will indirectly hold 100% equity in each project company, making them indirect wholly-owned subsidiaries. It is noted that Hefei Project Company One is developing Hefei Project One, a property development named "Jiuyue Garden" in the Binhu District of Hefei. Hefei Project Company Two is developing Hefei Project Two, a property development named "Jiuyue Business Center" in the same district.

The announcement stated that the project companies are primarily engaged in property development. According to the cooperation agreement, Shenzhen Chuanggu has the right to exit its investment in the relevant project companies upon the occurrence of specific events under the exit clauses. Therefore, the group is proceeding with the acquisition to fulfill its obligations under the cooperation agreement. Furthermore, after comprehensive consideration of the projects' locations and prospects, the acquisition is expected to enable the group to fully own each project company, providing greater flexibility in managing the remaining assets and enhancing the group's overall operational efficiency, which aligns with the group's best interests.