Grandway Advised Jianyi Decoration Group on Acquiring 80% of the Equity of Jianxing Construction Engineering

The transaction (“Transaction”) that Shenzhen Jianyi Decoration Group Co., Ltd. (“Jianyi Decoration Group”) paid cash to purchase 80% of the equity of Guangdong Jianxing Construction Engineering Co., Ltd. (“Jianxing Construction”) was completed. The transaction price is RMB 720 million. The transaction straddles three systems: state-owned system, private system and public companies system, fully reflecting the development characteristics and vitality of resource sharing, advantages complementing and integration.

Jianyi Decoration Group, an A-share listed company controlled by Zhuhai Xiangzhou District State-owned Assets Management Office, is a comprehensive architectural decoration enterprise, mainly providing construction and design services for interior architectural decoration of public buildings and residences, such as office buildings, government agencies, star hotels, cultural, educational, physical and health buildings, transportation infrastructure buildings, etc. Jianxing Construction is mainly engaged in building construction and provides services such as architectural design, production and rental of building industrialized parts. This transaction is conducive to integrating the existing industrial resources of Jianyi Decoration Group and Jianxing Construction, extending the layout of the industrial chain, building a “big construction platform” together, forming a synergy for business development and cultivating new momentum for development. This project is also an “upstream and downstream” integration completed by Jianyi Decoration Group when the real estate policy is opened.