According to the HKEx announcement on Monday evening, Wanwuyun entered into a series of debt settlement agreements with various sellers and debtors ultimately controlled or linked to by the controlling shareholder Vanke. The sellers and debtors agreed to settle certain amounts due by transferring properties or parking spaces to certain subsidiaries of Wanwuyun. The total cost of these debt settlement agreements is approximately RMB 662 million. The amount of the acquisition price used to settle accounts owed by various sellers and debtors to certain subsidiaries of the Group is approximately RMB 659 million. The remainder is deducted from each seller and/or debtor's prepayment of the Group's business payments; and the Group's cash payment of approximately RMB 2.25 million. Wanwuyun said that the above transactions will help reduce credit risk exposure to related parties and help maintain the liquidity of the Group's assets.

According to the HKEx announcement on Monday evening, Wanwuyun entered into a series of debt settlement agreements with various sellers and debtors ultimately controlled or linked to by the controlling shareholder Vanke. The sellers and debtors agreed to settle certain amounts due by transferring properties or parking spaces to certain subsidiaries of Wanwuyun. The total cost of these debt settlement agreements is approximately RMB 662 million. The amount of the acquisition price used to settle accounts owed by various sellers and debtors to certain subsidiaries of the Group is approximately RMB 659 million. The remainder is deducted from each seller and/or debtor's prepayment of the Group's business payments; and the Group's cash payment of approximately RMB 2.25 million. Wanwuyun said that the above transactions will help reduce credit risk exposure to related parties and help maintain the liquidity of the Group's assets.