[Caihua News] Dali Group (00029-HK) announced that, as recently announced by the liquidation team, Shenzhen Zhenhua entered into a land acquisition compensation agreement with the Nanshan Administration of the Shenzhen Municipal Bureau of Planning and Natural Resources in response to the proposal and in accordance with the relevant Chinese laws, regulations and rules applicable to the Shenzhen Zhenhua Port Enterprise in which the company holds 49% of the company's shares.

According to the agreement, the Planning Administration and Shenzhen Zhenhua have agreed to arrange for land replacement. For this reason, Shenzhen Zhenhua will hand over existing land A to the Planning Administration. The Planning Administration will reimburse Shenzhen Zhenhua for a plot of land located east of Houhai Avenue, south of Shekou New Street, west of Zhongxin Road and north of Wanghai Road in Dongjiaotou, Nanshan District, Shenzhen without additional land price payments; and Shenzhen Zhenhua will hand over existing land B to the Planning Administration. Both must abide by the terms and conditions set out in the agreement and obtain compensation for the demolition of the existing land and buildings above it through negotiations buildings. According to the agreement, the new land will cover an area of about 111,000 square meters. The land will be used for residential, commercial use and supporting facilities, while the total construction area that can be developed is about 395,000 square meters for multi-use development.