• Shimao Services agreed on October 23, 2026, to halve its EV-charging joint venture's registered capital to RMB 200 million.
• Its subscribed investment will fall from RMB 196 million to RMB 98 million, retaining a 49% stake.
• The venture will refund RMB 98 million for general working capital within 10 business days of agreement effectiveness and capital-reduction registration.
• The reduction aims to improve capital efficiency amid intensifying competition and weaker-than-expected industry profitability.
• The group will retain its investment, evaluating further funding as the industry matures and market prospects become clearer.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Shimao Services Holdings Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20261023-12381197), on October 23, 2026, and is solely responsible for the information contained therein.