On November 16, Gelonghui, Rongwanjia (02146.HK) announced that the content relates to (among others) the General Agreement on Property Management Services and the General Minor Works and Related Advisory Services Agreement. Based on this, the Group has agreed to provide relevant property management services or minor works and related consulting services to Rongsheng Development Group. According to the Master Property Management Services Agreement and the General Minor Works and Related Advisory Services Agreement, the total receivables for services provided for the year ended 31 December 2022 under the Master Property Management Services Agreement and the Master Minor Works and Related Advisory Services Agreement and related advisory services agreements were RMB 1,264 billion (“receivables”) relating to services provided as of the date of the debt settlement framework agreement.
On November 16, 2023, the company signed a debt repayment framework agreement with Rongsheng Development. According to the debt reimbursement framework agreement, the company has agreed to the acquisition under conditions and Rongsheng Development has agreed to sell the repaid property on a conditional basis. The total cost is RMB 568 million, and the receivables will be offset on an equal basis.