Bond Abbreviation: 26 Dayue 06
Bond Abbreviation: 26 Dayue 05
Bond Abbreviation: 26 Dayue 03
Bond Abbreviation: 26 Dayue 01
Bond Abbreviation: 25 Dayue 04
Bond Abbreviation: 25 Dayue 03
Bond Abbreviation: 25 Dayue 02
Bond Abbreviation: 25 Dayue 01
Bond Abbreviation: 23 Dayue 01
Bond Abbreviation: 22 Dayue 02
Bond Abbreviation: 22 Dayue 01
Bond Code: 520023.SZ
Bond Code: 520022.SZ
Bond Code: 134863.SZ
Bond Code: 134772.SZ
Bond Code: 134377.SZ
Bond Code: 134376.SZ
Bond Code: 133992.SZ
Bond Code: 133991.SZ
Bond Code: 148174.SZ
Bond Code: 148141.SZ
Bond Code: 148102.SZ
Grandjoy Holdings Group Co., Ltd.
Announcement on the Proposed Transfer of Assets and Development of Commercial Real Estate REITs Application and Issuance
The Company and all members of its Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or significant omissions.
I. Basic Project Information
The China Securities Regulatory Commission (CSRC) issued the "Announcement on Launching the Pilot Program for Commercial Real Estate Investment Trusts" (CSRC Announcement [2025] No. 21) and the "Notice on Promoting the High-Quality Development of the Real Estate Investment Trusts (REITs) Market" (CSRC Announcement [2025] No. 63) on December 31, 2025, officially launching the pilot program for commercial real estate REITs. The program requires the standardized and efficient implementation of the pilot program for commercial real estate REITs, with a focus on supporting the issuance of REITs backed by high-quality commercial real estate such as shopping malls, office buildings, hotels, and commercial complexes located in core areas, with mature operations and stable cash flow. This aims to revitalize existing commercial assets, facilitate the financing and investment cycle, and serve the expansion of domestic demand and high-quality development of the real economy.
Grandjoy Holdings Group Co., Ltd. (hereinafter referred to as the "Company") is responding to the policy call for the pilot program of commercial real estate REITs, further unlocking the investment value of the Company's mature properties, improving the Company's full lifecycle development model and financing mechanisms for commercial real estate, and enhancing the Company's core competitiveness and sustainable development capabilities. The Company plans to use its wholly-owned subsidiary, COFCO Property Investment Co., Ltd. (hereinafter referred to as "COFCO Property"), as the original beneficiary, and carry out the application and issuance of commercial real estate REITs based on the assets held by its wholly-owned subsidiary, Grandjoy (Tianjin) Co., Ltd. (hereinafter referred to as "Grandjoy (Tianjin)"). For the purpose of developing commercial real estate REITs, it is proposed to transfer 100% of the equity of Grandjoy (Tianjin) held by COFCO Property through a non-public agreement transfer (hereinafter referred to as the "Transaction").
The issuance of commercial real estate REITs in this instance does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies," nor does it constitute a related-party transaction.
II. Basic Transaction Information
(I) Basic Information of Transaction Parties