Some investors asked Financial Street. Recently, many places have used special bonds to collect vacant land and stock commercial housing from housing enterprises. Please ask: ① The company's settlement plan is about 10.86 million square meters by the end of June. Are there any suspended, delayed, or long-term vacant land that has been declared or proposed to be included in the scope of local government special debt collection/acquisition? ② If so, what is the estimated recovery amount and impact on inventory impairment and cash flow? ③ Does the company's “revitalizing existing assets” include the government's collection and storage path, or is it limited to market-based removal, self-owned transformation of the city, and transfer to the group? On November 6, the company replied that it is closely following national and local policies on using special bonds to buy existing commercial housing and vacant land. Up to now, the company has no projects involving the collection, storage or acquisition of local government special bonds. The company's real estate development business adheres to “production based on sales”, focusing on sales elimination and repayment; the asset management business optimizes project positioning to improve service levels and market-based operation capabilities; the urban renewal and cultural tourism business continues to promote market-based expansion and stock revitalization, and actively expand and transform new projects while improving the operating efficiency of existing projects.

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