Announcement for the Board's resolution on matters related to decoration construction with contractor on behalf of Wuxi Paihong Company.

 Announcement for the Board's resolution on
matters related to decoration construction with
contractor on behalf of Wuxi Paihong Company.

1.Type of contract:
Engaging others to build its on own land.
2.Date of occurrence of the event:2021/09/16~2022/05/19
3.Counterparty to the contract and relationship with the Company:
 (1)Counterparty to the contract:
    China Construction Dongfang Decoration Co.,Ltd.
 (2)Relationship with the Company: None.
4.Major content of the contract (including total contract amount,
anticipated monetary amount of participation in the investment, and start
and end dates of the contract), restrictive covenants, and other important
terms and conditions:
 (1)Total contract amount:
    RMB 120,411,075(including tax), of which project contracted with a total
    amount of RMB 104,911,075 (including tax).
 (2)Start and end dates of the contract:
    Wuxi Paihong Real Estate Co., Ltd contracts them according to the time
    schedule of the construction plans.
 (3)Restrictive covenants, and other important terms and conditions:None.
5.Name of the professional appraisal firm or company and its
appraisal opinion:N/A.
6.Name of the real property appraiser:N/A.
7.Practice certificate number of the real property appraiser:N/A.
8.Concrete purpose of the acquisition:
 In response to the needs of future operation development.
9.Any dissenting opinions of directors to the present transaction:None.
10.Whether the counterparty of the current transaction is a related party:No.
11.Date of the board of directors resolution:NA
12.Date of ratification by supervisors or approval by
the audit committee:NA
13.The appraisal report has a limited price, specific price,
or special price:N/A.
14.An appraisal report has not yet been obtained:N/A.
15.Reason for an appraisal report not being obtained:N/A.
16.Reason for any significant discrepancy with the appraisal reports and
opinion of the CPA:N/A.
17.Name of the CPA firm:N/A.
18.Name of the CPA:N/A.
19.Practice certificate number of the CPA:N/A.
20.Any other matters that need to be specified:None.