Shanghai Construction Group (600170.SH) consortium won the land use rights in Pudong New District, Shanghai.

Shanghai Construction Group (600170.SH) announced on December 27, 2024, that the company, Shenzhen Agricultural Power Group Co., Ltd, Shanghai Pudong Commercial Development Group Co., Ltd, and Shanghai Huiyuan Nan Commercial Development Co., Ltd had formed a consortium and successfully bid for the state-owned construction land use rights of the North Unit (PDS3-0202) 04-02 plot in East City District of Huinan Town, Pudong New Area (referred to as "this plot"), and signed a land transfer contract. Shanghai Construction Group's investment in the consortium accounts for approximately 42.85% of the total. The total transaction price for the land use rights of this plot is RMB 1.007 billion. This investment is included in the company's investment plan for 2024. The plan for this plot is to jointly develop the "Shanghai HJX Huinan Project" with Shenzhen Agricultural Power Group Co., Ltd, Shanghai Pudong Commercial Development Group Co., Ltd, and Shanghai Huiyuan Nan Commercial Development Co., Ltd. It is positioned as a first-class comprehensive logistics trading center in Pudong New Area, focusing on the development of import and export businesses, and aiming to become an important distribution hub for import and export in the Yangtze River Delta region and even nationwide. This project aligns with the company's development strategy, strengthens cooperation with strategic partners, promotes the development of core business, and enhances the company's sustainable development capabilities.