On December 26, C&D INTL GROUP (01908.HK) announced that Fuzhou Huicheng Baiyue successfully acquired the land use rights for the land located in the Yuhu Sector of Licheng District, Putian City, China, on November 19, 2024, for a total price of RMB 0.585 billion. On December 26, 2024, the parties (including Xiamen Zhaochengyao, Putian Lianxingtai, Fuzhou Huicheng Baiyue, and Putian Zhuyuan) signed a cooperation agreement, whereby the parties agreed to develop and construct Residential and/or commercial projects on the land through the joint venture, Putian Lianzhaofeng Real Estate. Xiamen Zhaochengyao (a subsidiary of the company), Putian Lianxingtai, Fuzhou Huicheng Baiyue, and Putian Zhuyuan will hold 9%, 34%, 51%, and 6% interests in the joint venture, respectively. The capital contribution amount payable by Xiamen Zhaochengyao to the joint venture is RMB 52.65 million.

After the proposed Trade under the cooperation agreement is completed, Xiamen Zhaochengyao will Hold a 9% equity interest in the joint venture. The joint venture will not become an indirect subsidiary of the company, and its financial performance will not be consolidated into the company's financial statements.

It is reported that the land is located in the Yuhu Sector of Licheng District, Putian City, China, with excellent comprehensive quality, complete commercial, Education, and landscape resource support, and has good development prospects. The total area of the land is approximately 23,415.75 square meters, and the total planned building area is expected to not exceed approximately 86,638 square meters. The land use rights for residential purposes have a grant term of 70 years.

Signing the cooperation agreement will enable the parties (including the group and Lianfa Group) to leverage their respective advantages in the development of the land, improve land development Operation efficiency and capital utilization efficiency, thus sharing risks and benefits. The Directors believe that jointly developing the land with Lianfa Group will achieve more effective cost and quality control of the construction project, explore brand synergy advantages, and further expand the influence of the "C&D" brand.