Common use of HISTORICAL TRANSACTION AMOUNTS AND ANNUAL CAPS Clause in Contracts

HISTORICAL TRANSACTION AMOUNTS AND ANNUAL CAPS. The table below summarises the actual transaction amounts, being the fees paid by Beijing Guorui Group to AOCEAN Property Management in respect of the property management services provided by AOCEAN Property Management for vacant property units and units occupied by Beijing Guorui Group for the two years ended 31 December 2019 and nine months ended 30 September 2020 under the 2018 New Property Management Agreement and the 2018 Kingdom Guorui Sales Office Management Agreement. For the For the For the nine months year ended year ended ended 31 December 31 December 30 September 2018 2019 2020 (RMB) (RMB) (RMB) Actual transaction amounts 18,210,123 23,223,558 29,140,122 The proposed annual caps under the 2021 New Property Management Agreement for the amount receivable by AOCEAN Property Management for the three years ending 31 December 2023 are as follows: For the year ending 31 December For the year ending 31 December For the year ending 31 December 2021 2022 2023 (RMB) (RMB) (RMB) Proposed annual caps 47,500,000 52,250,000 57,475,000 The proposed annual caps have been determined by the Company after taking into account of (i) the historical actual transaction amounts as disclosed above; (ii) the estimated number of vacant units or units occupied by Beijing Guorui Group of the relevant property projects during the three years ending 31 December 2023 having taken into account the estimated completion of the construction of new property units of Guorui Square Block A, Kingdom Guorui, Xx. 0 Xxxxxxx Xxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, xxx XXX; and (iii) the fees chargeable per square meter per month during such period as stipulated under the 2021 New Property Management Agreement.

HISTORICAL TRANSACTION AMOUNTS AND ANNUAL CAPS. The table below summarises the actual transaction amounts, being the fees paid by Beijing Guorui Group to AOCEAN Property Management in respect of the property management heat supply services provided by AOCEAN Property Management for vacant property units and units occupied by Beijing Guorui Group for the two years ended 31 December 2019 and nine months ended 30 September 2020 under the 2018 New Property Management Agreement and the 2018 Kingdom Guorui Sales Office Management Heat Supply Services Agreement. For the For the For the nine months year ended year ended ended 31 December 31 December 30 September 2018 2019 2020 (RMB) (RMB) (RMB) Actual transaction amounts 18,210,123 23,223,558 29,140,122 8,473,172 7,228,082 5,988,319 The proposed annual caps under the 2021 New Property Management Heat Supply Services Agreement for the amount receivable by AOCEAN Property Management for the three years ending 31 December 2023 are as follows: For the year ending 31 December For the year ending 31 December For the year ending 31 December 2021 2022 2023 (RMB) (RMB) (RMB) Proposed annual caps 47,500,000 52,250,000 57,475,000 10,000,000 11,000,000 12,100,000 The proposed annual caps have been determined by the Company after taking into account of (i) the historical actual transaction amounts as disclosed above; (ii) the estimated number of vacant units or units occupied by Beijing Guorui Group of the relevant property projects during the three years ending 31 December 2023 having taken into account the estimated completion of the construction of new property units of Guorui Square Block A, Kingdom Guorui, Xx. 0 Xxxxxxx Xxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, xxx XXXthe PRC; and (iii) the fees chargeable per square meter per month heat supply season during such period as stipulated under the 2021 New Property Management Heat Supply Services Agreement.

HISTORICAL TRANSACTION AMOUNTS AND ANNUAL CAPS. The table below summarises the actual transaction amounts, being the fees paid by Beijing Guorui Group to AOCEAN Property Management in respect of the property management services provided by AOCEAN Property Management for vacant property units and units occupied by Beijing Guorui Group for the two years ended 31 December 2019 and nine months ended 30 September 2020 under the 2018 New Property Management Agreement and the 2018 Kingdom Guorui Sales Office Management Agreement. For the year ended 31 December For the year ended 31 December For the nine months year ended year ended ended 31 December 31 December 30 September 2018 2019 2020 (RMB) (RMB) (RMB) Actual transaction amounts 18,210,123 23,223,558 29,140,122 The proposed annual caps under the 2021 New Property Management Agreement for the amount receivable by AOCEAN Property Management for the three years ending 31 December 2023 are as follows: For the year ending 31 December For the year ending 31 December For the year ending 31 December 2021 2022 2023 (RMB) (RMB) (RMB) Proposed annual caps 47,500,000 52,250,000 57,475,000 The proposed annual caps have been determined by the Company after taking into account of (i) the historical actual transaction amounts as disclosed above; (ii) the estimated number of vacant units or units occupied by Beijing Guorui Group of the relevant property projects during the three years ending 31 December 2023 having taken into account the estimated completion of the construction of new property units of Guorui Square Block A, Kingdom Guorui, Xx. 0 Xxxxxxx Xxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, xxx XXX; and (iii) the fees chargeable per square meter per month during such period as stipulated under the 2021 New Property Management Agreement.

HISTORICAL TRANSACTION AMOUNTS AND ANNUAL CAPS. The table below summarises the actual transaction amounts, being the fees paid payable by Beijing Guorui Group to AOCEAN Property Management in respect of the property management heat supply services provided by AOCEAN Property Management for vacant property units and units occupied by Beijing Guorui Group for the two years ended 15 September 2016 and the period commencing from 16 September 2016 up to 31 December 2019 and nine months ended 30 September 2020 August 2017 under the 2018 New Beijing Guorui Property Management Heat Supply Services Agreement and the 2018 Kingdom Guorui Sales Office Management Beijing Guolong Heat Supply Services Agreement. For the For the For the nine months year ended year ended ended 31 December 31 December 30 The period from 16 September 2018 2019 2020 2014 to 15 September 2015 The period from 16 September 2015 to 15 September 2016 The period from 16 September 2017 (RMB) (RMB) (RMB) Actual transaction amounts 18,210,123 23,223,558 29,140,122 1,233,000 4,508,000 5,446,000 The proposed annual caps under the 2021 2018 New Property Management Heat Supply Services Agreement for the amount receivable by AOCEAN Property Management for the three years ending 31 December 2023 2020 are as follows: For the year ending 31 December For the year ending 31 December For the year ending 31 December 2021 2022 2023 2018 2019 2020 Proposed annual caps (RMB) 8,596,000 (RMB) 9,456,000 (RMB) Proposed annual caps 47,500,000 52,250,000 57,475,000 10,401,000 The proposed annual caps have been determined by the Company after taking into account of (i) the historical actual transaction amounts as disclosed aboveamounts, being the fees paid by Beijing Guorui Group to AOCEAN Property Management in respect of the heat supply services provided for vacant property units and units occupied by Beijing Guorui Group for the three years ended 15 September 2017; (ii) the estimated number of vacant units or units occupied by Beijing Guorui Group of the relevant property projects during the three years ending 31 December 2023 2020 having taken into account the estimated completion of the construction of new property units of Guorui Square Block A, Kingdom Guorui* (國銳‧金嵿) with a total floor area of approximately 210,000 square metres, Xx. 0 Xxxxxxx Xxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, xxx XXXestimated sales and lease plan of the new property units of Kingdom Guorui* (國銳‧金嵿) and the resettlement plan of the original inhabitants on the relevant lands by the PRC government for North Garden* (北花園) based on the current construction plan and information available as at the date of this announcement; and (iii) the fees chargeable per square meter per month heat supply season during such period as stipulated under the 2021 2018 New Heat Supply Services Agreement. The Directors confirm that the terms under the 2018 New Heat Supply Services Agreement have been agreed based on arm’s length negotiations between AOCEAN Property Management Agreement.and Beijing Guorui Group, and have been entered into by AOCEAN Property Management in its ordinary and usual course of business and either (i) on normal commercial terms or better, or (ii) on terms no less favourable to AOCEAN Property Management than those available to or from independent third parties. Pricing and Payment Terms AOCEAN Property Management charges heat supply services fees in accordance with the prevailing heat supply prices as stipulated by the relevant regulatory authorities of the Beijing municipal government. On 24 November 2015, the Beijing Municipal Commission of Development and Reform released the Notice Regarding the Adjustment of the Heat Supply Price for Non- Residential Purpose in the City (Jing Fa Gai [2015] No. 2619) 《( 關於調整本市 非居民供熱價格的通知（京發改[2015]2619號）》), pursuant to which the heat supply price for non-residential purpose in Beijing was adjusted to RMB40 to RMB42 per square metre at various areas designated thereunder for every heat supply season. The fees in respect of commercial property are implemented in accordance with the aforesaid standard non-residential heat supply price. On 17 October 2001, the Beijing Municipal Price Bureau issued the Notice Regarding the Adjustment of Residential-use Heat Supply Price and Ex-Factory Price of Heat from Thermal Power Plants for the City (Xxxx Xxx (Shang) Zi [2001] No. 372) 《( 關於調 整我市民用供熱價格和熱電廠熱力出廠價格的通知（京價（商）字[2001]372號）》), in which it was stipulated that the heat supply price for residential purpose in Beijing shall be adjusted to RMB30 per square metre for every heat supply season. Such heat supply government regulated prices have remained unchanged since its implementation. Moreover, In certain property project AOCEAN Property Management will charge lower or higher price as those properties are not governed by the abovementioned regulations, and the price chargeable to independent third party users could be lower or higher than the prices as set by the regulations in general given the nature of such properties, and as such AOCEAN Property Management will charge a price comparable to that chargeable to other Independent Third Party users. The Directors are of the opinion that AOCEAN Property Management strictly complies with the heat supply government regulated prices of the regulatory authorities (where applicable), and where the abovementioned regulations are not applicable, are no less favourable than those chargeable to Independent Third Party users, for the purpose of charging heat supply fees under the 2018 New Heat Supply Services Agreements. The Company will take the following measures for monitoring the pricing and terms of the transactions contemplated under the 2018 New Heat Supply Services Agreement and for ensuring that the transactions conducted under such agreements are entered into based on normal commercial terms:

HISTORICAL TRANSACTION AMOUNTS AND ANNUAL CAPS. The table below summarises the actual transaction amounts, being the fees paid by Beijing Guorui Group to AOCEAN Property Management in respect of the property management heat supply services provided by AOCEAN Property Management for vacant property units and units occupied by Beijing Guorui Group for the two years ended 31 December 2019 and nine months ended 30 September 2020 under the 2018 New Property Management Agreement and the 2018 Kingdom Guorui Sales Office Management Heat Supply Services Agreement. For the year ended 31 December For the year ended 31 December For the nine months year ended year ended ended 31 December 31 December 30 September 2018 2019 2020 (RMB) (RMB) (RMB) Actual transaction amounts 18,210,123 23,223,558 29,140,122 8,473,172 7,228,082 5,988,319 The proposed annual caps under the 2021 New Property Management Heat Supply Services Agreement for the amount receivable by AOCEAN Property Management for the three years ending 31 December 2023 are as follows: For the year ending 31 December For the year ending 31 December For the year ending 31 December 2021 2022 2023 (RMB) (RMB) (RMB) Proposed annual caps 47,500,000 52,250,000 57,475,000 10,000,000 11,000,000 12,100,000 The proposed annual caps have been determined by the Company after taking into account of (i) the historical actual transaction amounts as disclosed above; (ii) the estimated number of vacant units or units occupied by Beijing Guorui Group of the relevant property projects during the three years ending 31 December 2023 having taken into account the estimated completion of the construction of new property units of Guorui Square Block A, Kingdom Guorui, Xx. 0 Xxxxxxx Xxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, xxx XXXthe PRC; and (iii) the fees chargeable per square meter per month heat supply season during such period as stipulated under the 2021 New Property Management Heat Supply Services Agreement.