Baoying Co., Ltd. announced that the company signed a lease contract and supplementary agreement with Hangzhou Fiduo Hotel Management Co., Ltd. to rent 15 self-owned properties located in the Nanshan District Construction Craftsman Building in Shenzhen to each other, with a rental area of 11047.92 square meters for use as a Sahe brand hotel under the Yaduo Group. The rental period is from September 30, 2026 to September 29, 2036, including a 12-month rent-free renovation period. The starting rent is 120 yuan/m2/month, and the rent increases 3% every three years. This transaction does not constitute a related transaction or major asset restructuring. It will bring long-term stable rental income to the company and help revitalize idle assets.

Baoying Co., Ltd. announced that the company signed a lease contract and supplementary agreement with Hangzhou Fiduo Hotel Management Co., Ltd. to rent 15 self-owned properties located in the Nanshan District Construction Craftsman Building in Shenzhen to each other, with a rental area of 11047.92 square meters for use as a Sahe brand hotel under the Yaduo Group. The rental period is from September 30, 2026 to September 29, 2036, including a 12-month rent-free renovation period. The starting rent is 120 yuan/m2/month, and the rent increases 3% every three years. This transaction does not constitute a related transaction or major asset restructuring. It will bring long-term stable rental income to the company and help revitalize idle assets.