Beijing Capital Development provides significant financial aid to project companies

Beijing Capital Development Company Limited (BBD) has provided RMB 2,371,832,200 in financial assistance. This includes RMB 427,259,200 in shareholder loans to three joint venture project companies and RMB 1,944,573,000 in surplus fund transfers to minority shareholders of five controlled project companies. This move, approved at the 2024 annual shareholders' meeting on May 20, 2025, aligns with the company's normal business operations to facilitate real estate project development.

The financial aid is provided on terms consistent with BBD's investment ratios, with other shareholders offering equivalent conditions for loans to joint ventures. For controlled projects, surplus funds are allocated after ensuring sufficient capital for ongoing operations. This strategy is typical in the real estate sector, aimed at boosting capital efficiency and project returns.

As of the announcement date, BBD has disclosed ongoing legal disputes related to overdue financial assistance involving Suzhou Pingtai Real Estate Co., Ltd., Beijing Youtai Tongda Real Estate Co., Ltd., and Fujian Zhonggeng Real Estate Co., Ltd., with some cases in appeal or progressing through the courts.