On 2 December 2024, a joint venture consisting of Hua Run Land's indirect wholly owned subsidiary Shenzhen Runtu and China Enterprise Development successfully bid for land use rights in Nanshan District, Shenzhen, at a cost of RMB 18.512 billion (approximately HK$20.047 billion). The land will be used for residential and commercial development. The consortium has signed a letter of acknowledgement with Shenzhen Trading Group and will apply to the authorities for the establishment of a land use concession contract.Under the Listing Rules, the acquisition constitutes a disclosable transaction because the applicable percentage of the cost to be paid is greater than 5% but less than 25%. SHENZHEN RUNTOU AND CHINA ENTERPRISE DEVELOPMENT WILL PAY THE PRICE ACCORDING TO THEIR RESPECTIVE 50% SHAREHOLDING RATIO. SHENZHEN...Show More

On 2 December 2024, a joint venture consisting of Hua Run Land's indirect wholly owned subsidiary Shenzhen Runtu and China Enterprise Development successfully bid for land use rights in Nanshan District, Shenzhen, at a cost of RMB 18.512 billion (approximately HK$20.047 billion). The land will be used for residential and commercial development. The consortium has signed a letter of acknowledgement with Shenzhen Trading Group and will apply to the authorities for the establishment of a land use concession contract.Under the Listing Rules, the acquisition constitutes a disclosable transaction because the applicable percentage of the cost to be paid is greater than 5% but less than 25%. SHENZHEN RUNTOU AND CHINA ENTERPRISE DEVELOPMENT WILL PAY THE PRICE ACCORDING TO THEIR RESPECTIVE 50% SHAREHOLDING RATIO. SHENZHEN RUNTU HAS PAID ITS OUTSTANDING MARGIN WITH INTERNAL RESOURCES AND WILL PAY ITS CAPITAL LIABILITIES AND COST BALANCES WITH INTERNAL RESOURCES.This acquisition will add to Huayun Land's land reserves and increase profitability. The Board considers that the terms of the acquisition are fair and reasonable and in the overall interests of the Company and its shareholders. SHENZHEN RUNTOU AND CHINA ENTERPRISE DEVELOPMENT WILL ESTABLISH PROJECT COMPANIES TO DEVELOP THE LAND AND PAY A PRICE BASED ON EQUITY RATIO.