Shanghai Sanmao (600689): Listing The 90% Equity Interest In Pferring Mao FA Property

Shanghai San Mao enterprise (Group) Limited by Share Ltd on the pfer of Shanghai Maoming Property Management Co., Ltd.

90% progress announcement on equity

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

1. Summary of pactions

The ninth board of directors of the Shanghai San Mao enterprise (Group) Limited by Share Ltd (hereinafter referred to as "the company") deliberated and adopted the motion on the proposed pfer of the 90% equity interest of Shanghai maoma property management company in 2018 at the first provisional meeting of the board of directors in 2018 and the first provisional shareholders meeting in 2019. It agreed that the company, based on the valuation of the price, was listed at the base price of RMB 18 million 504 thousand and 700 yuan, and the 90% equity interest of Shanghai maomai Property Management Co., Ltd. was publicly pferred through the joint stock exchange of Hong Kong.

(see 23, December 20, 2018, January 19, 2019, April 23rd and May) published in the Shanghai securities news, Hongkong Wen Wei Po and the Shanghai stock exchange website.

Two, paction progress

In May 24, 2019, the company received a full payment of 18 million 504 thousand and 700 yuan from the Shanghai joint property Bats Exchange Inc.

Follow up, the company will work with the paction side Shanghai dragon Management Co., Ltd. to cooperate with the target enterprises to handle relevant registration procedures.

The company will fulfill its obligation of information disclosure in accordance with the progress of the paction.

Notice hereby.

Shanghai San Mao enterprise (Group) Limited by Share Ltd, May 28th two, 19