SHENZHEN INT'L(00152): The first phase of the coordinated project for the preparation and retention of land in the South China Logistics Park has been approved by the Longhua District People's Government of Shenzhen and land supply related work will be carried out.

SHENZHEN INT'L (00152) announced that the Group has signed a land consolidation supervision agreement (land consolidation agreement) with the Longhua District Urban Renewal and Land Consolidation Bureau, the Longhua District Minzhi Sub-district Office, and the Shenzhen Planning and Natural Resources Bureau Longhua Management Bureau (City Planning and Land Resources Longhua Bureau) regarding the implementation of the South China Logistics Park Phase I land consolidation project covering an area of approximately 530,000 square meters. It was agreed to comprehensively implement the project through a combination of land retention and monetary compensation. South China Logistics Company, as the original land user, is allowed to retain an area of 108,700 square meters of land within the logistics park. The planned volume of the retained land is approximately 694,200 square meters, with supporting volume of approximately 29,000 square meters, and equity volume of approximately 665,200 square meters. This includes residential buildings of approximately 577,600 square meters (including some properties with government shared ownership that will be implemented according to relevant government policies), commercial, office, and hotel buildings of approximately 87,600 square meters. Authorized by the Shenzhen Urban Planning Commission's Legal Regulations Committee, the land consolidation unit plan for the project was announced by the Longhua District Reconstruction Bureau on October 12, 2024. The project is planned to be implemented in three phases. On December 30, 2024, the City Planning and Land Resources Longhua Bureau announced that the first phase of land consolidation for the South China Logistics Park (i.e. plot 02-20-04) has been approved by the Longhua District People's Government of Shenzhen and will begin the relevant land supply work. The publication of this announcement signifies that the Group has the development rights over the mentioned plot and will proceed with subsequent development work after completing the relevant land transfer procedures.