Excellence Commercial Property updates asset valuation methods, adjusts FY2024 profit

Excellence Commercial Property & Facilities Management Group Limited announced supplementary details regarding the transfer of offset assets from Excellence Group. The acquisition, valued at RMB379,160,000 as of July 31, 2025, involved the settlement of outstanding trade and other receivables. The independent valuer, Jones Lang LaSalle Corporate Appraisal and Advisory Limited, utilized different methods for various asset types.

Residential, retail, and apartment units, totaling RMB49,100,000, were valued using a market approach. Conversely, office units, car parking spaces, and rights of use in residential and car parking units, amounting to RMB330,060,000, were valued using an income approach.

The company also corrected a previously reported net profit before taxation for revenue-generating assets for FY2024, noting the precise figure is CNY 4,333,513.93, rather than CNY 3,380,000. This adjustment does not impact the results of the size test. The net profits attributable to the offset assets for FY2023 and FY2024 were RMB5,025,726.03 and RMB4,333,513.93 before taxation, and RMB3,769,294.52 and RMB3,250,135.45 after taxation, respectively.