Announcement of cancellation of the cash capital increase between subsidiaries of the Company ｜ Sinyi Realty Inc. ｜ Investor Relations

Subject： Announcement of cancellation of the cash capital increase between subsidiaries of the Company.
To which item it meets： paragraph 51
Date of events：2021/09/24
 

1. Date of occurrence of the event:2021/09/24
2. Company name:Sinyi Realty Inc.
3. Relationship to the Company (please enter ”head office” or   ”subsidiaries”):head office
4. Reciprocal shareholding ratios: Not applicable
5. Cause of occurrence:
   (1)On February 25, 2019, the board of dierctors of the Company resolved  Xin Yeh Business Administration     
      (Shanghai)Ltd. to increase investment in Sinbang Development (Huadong) Co.,Ltd.  (temporally named and
      to be established) through cash capital increase  with RMB 350,000 thousand.
   (2)Due to changes in the mainland government’s land auction policy, the Company plans to re-adjust the
      investment structure. The above-mentioned cash capital increase has been cancelled.
6. Countermeasures: none.
7. Any other matters that need to be specified: none.