[Chart: 2025 Sustainability Report Cover]
CONTENTS
01 Report Overview 03 Preface 05 About Grandjoy Holdings 08 2025 Key Events 09 Honors and Awards 15 The Path to Steady and Sound Management 25 The Ideal of Joyful and Happy Living 39 The Garden of Joyful and Green Low-Carbon Living 57 The Vision of Joyful and Harmonious Coexistence 75 The Future of Joyful and Beautiful Communities 81 Future Outlook 83 Appendix
Report Overview
Preparation Basis This report is the 2025 Sustainability Report released by Grandjoy Holdings Group Co., Ltd. ("Grandjoy" or "the Company" or "we"). It provides a comprehensive account of the Company's concepts, management, actions, and achievements in sustainability from environmental, social, and governance perspectives, aiming to communicate openly with stakeholders and respond to their concerns regarding sustainability issues.
Reporting Scope Unless otherwise specified, this report covers the overall business operations of the Company within the reporting period.
Information Sources The information and data in this report are primarily derived from the Company's internal data collection, statistical reports, public information, and authoritative media releases. All data is subject to the final interpretation of Grandjoy Holdings Group Co., Ltd.
Preparation Basis This report is primarily prepared in accordance with the Shenzhen Stock Exchange (SZSE) "Self-Regulatory Guidelines for Listed Companies No. 17 — Sustainability Report (Trial)", the "SZSE Self-Regulatory Guidelines for Listed Companies No. 3 — Sustainability Report (2026 Revision)", the State-owned Assets Supervision and Administration Commission (SASAC) "Guidelines for Quality Improvement of Listed Companies Controlled by Central SOEs (Appendix 2: ESG Special Report Reference Indicators)", the Global Reporting Initiative (GRI) Standards, and the "SDG Compass" (Business Guide to the SDGs).
Publication Format The Company has a "Social Responsibility" section on its official website where you can download the electronic version of this report. If you require a printed copy, please contact us through the following channels: Company Website: www.grandjoy.com Office Address: 13th Floor, COFCO Landmark Plaza, No. 8 Chaoyangmen South Street, Chaoyang District, Beijing Postal Code: 100020 Contact Number: 86-010-85619759 Corporate Communications: 86-755-23999009
Preface
In 2025, we fully implemented the spirit of the 20th National Congress and the Third Plenary Session, successfully completing the tasks of the "14th Five-Year Plan." Facing the complexities of the domestic and international environment, the country emphasized "boosting consumption and increasing investment" to expand domestic demand, while continuing to promote the recovery of the real estate market and urban renewal, driving the high-quality development of the real estate industry. Grandjoy Holdings Group Co., Ltd. (hereinafter referred to as "Grandjoy") adhered to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, proactively served national strategies, anchored its development goals, and maintained a positive momentum of steady growth and quality improvement.
Adhering to High-Quality Development and Enhancing Governance Capability This year, Grandjoy adhered to high-quality development, continuously improving governance capability. The Company remained committed to seeking progress while maintaining stability, optimizing the sustainability management system, improving capital management and debt structure, and strengthening cash flow and risk internal control. In 2025, the Nanchang Joy City and Shenzhen Joy City projects achieved high-quality opening, further improving the Company's urban layout and creating new benchmarks for urban consumption. By promoting the REITs listing of Grandjoy Commercial, we enhanced asset allocation and operational efficiency, providing strong support for the sustainable development of our "investment and management" model.