Yunnan Urban Investment Real Estate Development Co., Ltd. Announcement on the Progress of Major Asset Reorganization of the Company

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Stock Code: 600239 Stock Abbreviation: Yunnan Urban Investment Announcement No.: 临2026-012

Yunnan Urban Investment Real Estate Co., Ltd.

Progress Announcement on Major Asset Restructuring

The company’s board of directors and all directors guarantee that the content of this announcement is free of any false records, misleading statements, or major omissions, and bear legal responsibility for its truthfulness, accuracy, and completeness.

Key Highlights:

● As of the date of this announcement, there has been no substantial progress in this major asset restructuring.

1. Basic Information of the Restructuring

To optimize the asset structure of Yunnan Urban Investment Real Estate Co., Ltd. (hereinafter referred to as “the Company”) and enhance its risk resistance, the Company and its wholly owned subsidiary Tianjin Yinrun Investment Co., Ltd. (hereinafter referred to as “Tianjin Yinrun”) are publicly listing assets on the Yunnan Property Rights Exchange, selling 70% of the equity in Cangnan Yintai Real Estate Co., Ltd. (hereinafter “Cangnan Yintai”), 70% of Hangzhou Haiwei Real Estate Development Co., Ltd. (hereinafter “Hangzhou Haiwei”), 70% of Pingyang Yintai Real Estate Co., Ltd. (hereinafter “Pingyang Yintai”), 70% of Hangzhou Yuntai Shopping Center Co., Ltd. (hereinafter “Hangzhou Yuntai”), 19% of Ningbo Economic and Technological Development Zone Taiyue Real Estate Co., Ltd. (hereinafter “Ningbo Taiyue”), 70% of Ningbo Yintai Real Estate Co., Ltd. (hereinafter “Ningbo Yintai”), 70% of Heilongjiang Yintai Land Co., Ltd. (hereinafter “Heilongjiang Yintai”), 70% of Mingshang Yintai City (Zibo) Commercial Development Co., Ltd. (hereinafter “Zibo Yintai”), 70% of Harbin Yinqi Real Estate Development Co., Ltd. (hereinafter “Harbin Yinqi”), 70% of Taizhou Yintai Real Estate Co., Ltd. (hereinafter “Taizhou Real Estate”), 90% of Beijing Real Estate Creative Port Investment Co., Ltd. (hereinafter “Beijing Real Estate”), and Tianjin Yinrun holds 51% of Ningbo Taiyue. (The aforementioned transferred equity assets are collectively referred to as “the Target Assets”; the sale of these assets as “this Major Asset Sale”; the companies being transferred as “the Target Companies”). After organized trading by the Yunnan Property Rights Exchange and approval by the company’s shareholders’ meeting, Beijing Yintai Real Estate Co., Ltd. was designated as the transferee of 70% of Hangzhou Haiwei’s equity; Yunnan Kanglv Holding Group Co., Ltd. (hereinafter “Kanglv Group”), the controlling shareholder of the Company, through its wholly owned subsidiary Yunnan Chengduo Kangyuan Investment Co., Ltd. (hereinafter “Kangyuan Company”), was designated as the transferee of 70% of Cangnan Yintai and other 10 Target Assets. According to the “Shanghai Stock Exchange Stock Listing Rules” and “Self-Regulatory Guidelines for Listed Companies No. 5—Trading and Related Party Transactions,” this transaction constitutes a related-party transaction.

2. Progress of the Restructuring

On April 29, 2020, the Company held the 8th meeting of the 9th Board of Directors and the 5th meeting of the 9th Supervisory Committee, approving proposals related to the major asset sale and related-party transactions, including the “Major Asset Sale and Related-Party Transaction Plan” and its summary. On May 6, 2020, the Company disclosed the “Major Asset Sale and Related-Party Transaction Plan” and related announcements.

On May 18, 2020, the Company received the Shanghai Stock Exchange’s “Review Opinion Letter” (SSE Public Letter [2020] 0525) regarding the plan. The next day, the Company disclosed the “Announcement on Receipt of the Review Opinion Letter from SSE on the Major Asset Sale and Related-Party Transaction Plan” (Announcement No.: 临2020-049). The Company attached great importance to the review opinion, actively organized relevant departments and intermediaries to address the issues raised, and on June 16, 2020, disclosed the “Reply to the Review Opinion Letter from SSE” (Announcement No.: 临2020-060).

The Company held the 16th meeting of the 9th Board of Directors and the 12th meeting of the 9th Supervisory Committee on November 25 and December 14, 2020, respectively, approving major adjustments to the transaction plan, the major asset sale plan, and related proposals, which were disclosed on November 27 and December 15, 2020.

On March 22 and April 19, 2021, the Company held the 20th meeting of the 9th Board of Directors, the 16th meeting of the 9th Supervisory Committee, and the 2nd extraordinary shareholders’ meeting of 2021, approving the “Draft Report and Summary of the Major Asset Sale and Related-Party Transaction” and the “Proposal for External Signing of Property Rights Transaction Contract,” which were disclosed on March 23 and April 20, 2021.

As of now, all equity transfer work for the Target Companies has been completed. Nine companies—Pingyang Yintai, Hangzhou Haiwei, Cangnan Yintai, Hangzhou Yuntai, Ningbo Taiyue, Zibo Yintai, Heilongjiang Yintai, Taizhou Real Estate, Harbin Yinqi—have completed industrial and commercial registration changes; the remaining Ningbo Yintai and Beijing Real Estate have not yet completed registration changes. The Company will continue to actively promote the follow-up work of this major asset sale.

3. Other Reminders

The Company’s transfer of subsidiary equity through major asset restructuring is compliant and legal. The Company has transferred the equity of Taizhou Real Estate and Hangzhou Xixi Yingsheng Land Co., Ltd. to the asset transferees according to the “Property Rights Transaction Contract,” and operational management rights have been fully transferred. However, due to other shareholders and reasons, the registration procedures have not yet been completed.

Therefore, the Company declares that it has transferred the management rights of the equity in Taizhou Real Estate and Hangzhou Xixi to the asset transferees, and the Company is no longer the controlling shareholder of these Target Companies.

Information regarding this restructuring is based on announcements published on designated disclosure media of the Company. Investors are advised to be aware of investment risks.

The Company will fulfill its disclosure obligations in a timely manner according to relevant regulations. The designated disclosure media include the Shanghai Stock Exchange website (www.sse.com.cn), and newspapers such as “Shanghai Securities News,” “China Securities Journal,” “Securities Times,” and “Securities Daily.” All relevant information is based on announcements published through these media.

This announcement is hereby issued.

Yunnan Urban Investment Real Estate Co., Ltd. Board of Directors

March 17, 2026