Zhitong Finance App News, Xinyuan Service (01895) announced that the Group is one of the comprehensive property management service providers in China, providing a wide range of services, covering services provided to property developers, owners and residents before and after delivery, so that they can enjoy community life. These services can be divided into three main business lines, namely property management services; value-added services; and pre-delivery and consulting services. As far as the Board is aware, the Group's business operations were still operating normally in all major aspects as of the date of this announcement.

Following the quarterly update on the company's resumption progress, dated February 15, 2024, the company has been responding positively to the Stock Exchange's comments on its compliance with the resumption guidelines. The following is an overview of the company's recent major developments in implementing the resumption guidelines:

(1) For the purposes of the resumption of trading guidelines (a), the independent investigation was completed as of the date of this announcement. The main results are set out in the company's announcements of August 15, 2023 and May 10, 2024. As part of the company's remedies, the company has been actively seeking enforcement of the arbitration award, and the arbitration award has been fully enforced;

(2) As far as the resumption of trading guidelines (b) is concerned, all relevant persons identified by independent consultants in an independent investigation to have participated in unauthorized mortgage matters at the company and Xinyuan Real Estate holding level are no longer employed by the Group or Xinyuan Real Estate Holdings (as the case may be) and/or their employment relationship has been terminated;

(3) As far as the resumption of trading guidelines (c) is concerned, on the date of this announcement, the company confirmed that it has fully adopted and implemented all recommended enhanced measures to resolve the issues identified in the internal control review and internal control follow-up review;

(4) As far as the resumption of trading guidelines (d) is concerned, the company has made the market aware of all the company's important information and latest developments by publishing announcements relating to (including but not limited to) the main findings of the expanded investigation in accordance with the listing rules and the provisions of Part XIVA of the Securities and Futures Ordinance;

(5) For the purposes of the resumption of trading guidelines (e): (a) As of the date of this announcement, all unpublished financial results of the Company have been published. (b) As relevant events may have an impact on the comparability of the 2023 figures with the corresponding figures for 2022, the auditors issued an unqualified opinion on the Group's consolidated financial statements for 2023. Nevertheless, as the Company understands, since the 2022 comparative figures will not be included in the annual results for the year ended 31 December 2024, it is expected that the Group's audited consolidated financial statements for the year ended 31 December 2024 will remove such unqualified opinions.

(6) For the purposes of the resumption of trading guidelines (g), Zhao Xia has been appointed as an independent non-executive director with effect from April 8, 2024. After the appointment of Zhao Xia, the board of directors consists of 7 male directors and 1 female director; and

(7) In view of the company's large business scale and asset base, the Group complies with the requirements of the Resumption of Trading Guidelines (f) at all times.

The company submitted an application to resume share trading (application for resumption of trading) to the Stock Exchange on May 6, 2024. The Stock Exchange is reviewing the application for resumption of trading. The company will publish an announcement in due course in accordance with the listing rules to inform the public.

Furthermore, trading of the company's shares continues to be suspended.