1 General Information and Business Activities
Huixin Property Management (Shanghai) Co., Ltd. (hereinafter referred to as "the Company") is a limited liability company established by Minhang Investment Property Limited on June 13, 2017, in Shanghai, People's Republic of China. The registered capital of the Company is RMB 365,000,000.00. As of December 31, 2025, the paid-in capital of the Company is RMB 364,679,237.28. The approved business scope of the Company includes leasing and operation at Building 1, No. 2337, Gudai Road, Minhang District, Shanghai, property management, real estate consulting and intermediary services, and parking lot operation (projects requiring approval must be conducted after obtaining approval from relevant departments). In 2025, the Company's actual main business is leasing its own properties and providing related supporting services.
2 Basis for Financial Statement Preparation
These financial statements are prepared in accordance with the national enterprise accounting standards and the "Enterprise Accounting System." As of December 31, 2025, the Company's current liabilities exceed current assets by RMB 197,346,237.07. The continued operation of the Company largely depends on the ongoing financial support from its investors. The ultimate controlling shareholder, Silkroad Asia Value Parallel Fund SCS SICAV-SIF, has confirmed that it will continue to provide the necessary funds for the Company's operations for the 12 months following April 30, 2026, ensuring the Company can meet its due debts without significantly reducing its operational scale. Therefore, management believes that it is appropriate to prepare the financial statements on a going concern basis.