Shanghai Chengtou Holding (600649.SH): Subsidiary Chengtou Zhide plans to invest in and build 2 "urban village" renovation projects in Minhang District.

Shanghai Chengtou Holding (600649.SH) announced that its affiliated company, Shanghai Chengtou Property Development Group Co., Ltd. ("Chengtou Property"), plans to sign cooperation agreements with the People's Governments of Pujiang Town and Huacao Town respectively, and establish joint venture companies with the collective economic organizations of Pujiang Town and Huacao Town. Chengtou Property will hold a 90% equity stake in these joint ventures to invest in and develop the Du Xing Laojie "urban village" renovation project in Minhang District, Pujiang Town ("Du Xing project") and the Zhu Zhai "urban village" renovation project in Huacao Town ("Zhu Zhai project"). The total investment amount for the Du Xing project is approximately RMB 6.517 billion, and for the Zhu Zhai project is approximately RMB 11.839 billion. It is reported that by participating in the overall development and construction of the Du Xing and Zhu Zhai projects, it will help improve the company's level of specialization in the urban renewal field.