New Hope Service Holdings Limited released supplemental details on its April 16 announcement regarding the acquisition of a 45.5% equity interest in an unnamed target company.

Key valuation outcome • Independent valuer assessed the 45.5% interest at RMB76.36 million as of 31 December 2025. • Valuation applied the market approach, selecting an EV/EBIT multiple of 2.79 derived from three Hong Kong-listed property service peers—Dowell Service, E-Star Commercial Management and Kaisa Prosperity—whose market capitalisations were below RMB2.50 billion. • Target company’s trailing 12-month EBIT stood at RMB49.18 million, implying an enterprise value of RMB137.20 million. After adding cash (RMB23.69 million) and investment property (RMB23.10 million) and deducting minority interests (RMB0.63 million), total equity value reached RMB167.83 million. A discount for lack of marketability of 8.47% was applied.

Major assumptions The valuer assumed stable macro conditions, accuracy of management accounts, unchanged capital structure and the absence of hidden liabilities.

Debt set-off mechanics • Purchase consideration of RMB74.85 million will be settled entirely through a dollar-for-dollar set-off against service-fee receivables owed to the target company by related parties of the seller. • Receivables stem from property management services rendered since New Hope Service acquired an initial 51% stake in April 2022. • Completion of the set-off will eliminate historical fund occupation issues between the target company and the seller’s affiliates.

Additional asset details The investment property included in the valuation comprises 64 vacant office units in Changchun’s Mingyu Financial Plaza, with a gross floor area of 3,286.92 sq.m. and an adjusted unit price of roughly RMB7,030 per sq.m.

Counterparties The seller is a PRC-incorporated property management firm ultimately controlled by Minyoun Commercial Services Holdings Limited. Mistopiz HK Limited, a wholly-owned subsidiary of Minyoun Commercial Services, holds the stake being transferred.

The supplemental disclosure provides shareholders and potential investors with a detailed breakdown of valuation inputs and the debt-set-off arrangement, finalising the financial parameters of the connected transaction announced earlier.