Toread Plans To Sell Some Of Its Own Commercial Properties, Which Will Increase The Net Profit By 38 Million Yuan

On June 6, Toread Holding Group Co., Ltd. (hereinafter referred to as "Toread") issued the Announcement on the Sale of Part of the Company's Own Commercial Property, stating that it planned to sell 1659.99 square meters of the Company's own commercial property on the whole floor in Haidian District, Beijing.

The announcement shows that the headquarters office of Toread's outdoor main business is located in Block A (including the 21st and 24th floors) of Jinqiu International Building in Haidian District, Beijing, and Park 28, Hongfu Science Park, Changping District, Beijing (hereinafter referred to as "Hongfu Park"), The separation of staff from relevant departments of the headquarters has affected the efficiency of communication and cooperation between employees to a certain extent.

In view of this, Toread has created a more outdoor experience and modern office environment in Hongfu Park. Main employees will gradually move to this place for centralized office work. Later, the office area of Block A of Jinqiu International Building is expected to be mostly idle. Based on the above plan of centralized office work of the company's headquarters, and in order to effectively revitalize the company's stock assets and obtain more funds to support business development, Toread plans to sell its own property located on the 21st floor of Block A, Jinqiu International, No. 6 Zhichun Road, Haidian District, Beijing. According to the early communication and negotiation, Toread plans to sign the Beijing Stock Housing Sales Contract with the Chinese Hospital Association to sell the company's own commercial property located on the 21st floor of Jinqiu International Building A, No. 6, Zhichun Road, Haidian District, Beijing (hereinafter referred to as "Jinqiu 21st floor property"), covering an area of 1659.99 square meters.

Toread said that after the sale of the property, the relevant departments and employees of the company involved will mainly move to the Park 28, Hongfu Science and Technology Park, Changping District, Beijing, which will not affect the normal operation of the company's business, nor will it involve changes in senior personnel, and will not lead to horizontal competition with related parties after the transaction.

In addition, Toread also pointed out that the sale of property will not have an adverse impact on the normal operation of the company's business, and is expected to increase the company's current net profit by about 38 million yuan (this forecast is the company's preliminary estimate, and the final result is subject to the transaction price of the above property and the audit results confirmed by the audit agency).