On 17 April 2025, Jointown disclosed the Announcement on the Completion of Fundraising for the Pharmaceutical Warehousing and Logistics Pre-REITs Fund. On 30 December 2024, the company completed the equity transfer and related industrial and commercial change registration procedures for the initial pooled assets iof Pre-REITs (comprising three pharmaceutical warehousing and logistics assets with supporting facilities located in Shanghai, Hangzhou, and Chongqing). The companies associated with these initial pooled assets of Pre-REITs will no longer be included in the company's consolidated financial statements. On 16 April 2025, the company received a notice from the Pre-REITs real estate private equity investment fund manager that the Pre-REITs real estate private equity investment fund has completed its filing and fundraising work, and the first phase of funding totaling RMB 826 million had been fully paid in. The Pre-REITs project will have a positive impact on the company's financial indicators and provide equity capital support for the continued development of the company's main business. In addition, the Pre-REITs fund will screen underlying assets such as the company's pharmaceutical warehousing and logistics assets and supporting facilities in accordance with the requirements of infrastructure public REITs, and will engage early in the construction, operation and cultivation of target assets. This will incubate and cultivate high-quality assets for future expansions of public REITs, forming a virtuous cycle of rolling reinvestment and establishing a multi-tiered real estate equity capital operation platform of "public REITs + Pre-REITs."

For more details, please refer to No. L 2025-018 Announcement in Chinese disclosed at the official website of Shanghai Stock Exchange (www.sse.com.cn).

(The Chinese version shall prevail if there is any discrepancy between the English version and the Chinese version.)

For more information, please download:

https://static.sse.com.cn/disclosure/listedinfo/announcement/c/new/2025-04-17/600998_20250417_ROB8.pdf