C&D INTL GROUP(01908) signed a cooperation agreement on Putian land.

C&D INTL GROUP (01908) announces that Fuzhou Huicheng Baiyue successfully won the land use rights in the Yuhu area of Licheng District, Putian City, China on November 19, 2024 (Land number: Licheng District PS Auction-2024-35), with a total price of 585 million RMB. On December 26, 2024, the contracting parties signed a cooperation agreement, whereby the parties agreed to develop residential and/or commercial projects on the land through a joint venture. Xiamen Zhaochengyao (a subsidiary of the company), Putian Lianxin Tai, Fuzhou Huicheng Baiyue, and Putian Zhuyuan will respectively hold 9%, 34%, 51%, and 6% equity in the joint venture. Xiamen Zhaochengyao will bear capital contributions of 52.65 million RMB in the joint venture. Upon completion of the proposed transaction under the cooperation agreement, Xiamen Zhaochengyao will hold a 9% stake 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. The land is located in the Yuhu area of Licheng District, Putian City, China (Land number: Licheng District PS Auction-2024-35), with superior comprehensive qualities, complete commercial, educational, and landscape resources, and good development prospects. The total land area is approximately 23,415.75 square meters with an estimated total building area not exceeding about 86,600 square meters. The residential land use rights for the land have a duration of 70 years. The signing of the cooperation agreement will allow the contracting parties (including the Group and Lianfa Group) to collaborate and leverage their respective strengths in the development of the land, thereby improving land development efficiency and capital utilization efficiency, and sharing risks and benefits. The directors believe that jointly developing the land with Lianfa Group will lead to more effective cost and quality control in the construction projects, explore brand synergies, and further enhance the influence of the "Jianfa" brand.