In early 2024, the project leader agreed to issue Real Estate Trusts (REITs) in Australia to raise funds and plan to revitalize the project through debt restructuring, bankruptcy reorganization, and other means.

We have issued two real estate trusts successively: the first trust ACR (Australia Commercial REIT Ltd) and raised AUD 162 million on May 30, 2024.

The second trust WBR (Writing Brush Reits Ltd) completed the fundraising of AUD 456 million in February 2025.

The first phase of the private equity fund (Taxus And Health Ltd) issued by the biotechnology project raised AUD 159 million in December 2024.

The third phase of the real estate trust plans to start fundraising in September 2025, with an amount of no less than AUD 450 million, mainly investing in troubled commercial real estate projects in China (hotels, shopping malls, industrial real estate, etc.), helping them resolve historical debts, expand and optimize commercial operations, and achieve commercial success.

The second phase of the Biotechnology Fund plans to launch fundraising in October 2025, with an amount of approximately AUD 250 million, to support the development and growth of domestically leading biotechnology projects.