COASTAL GL (01124) subsidiary to hand over Dalian Jinzhou District land parcel to local authorities for compensation of approximately 1.09 billion yuan, trading to resume on January 14th.

COASTAL GL (01124) announced that on December 23, 2024, Dalian Jin Rijun Health Park (an indirect wholly-owned subsidiary of the company) entered into a land recovery agreement with the local authorities (supplemented and revised by a supplementary agreement dated January 10, 2025). Under the land recovery agreement, Dalian Jin Rijun Health Park is required to return the reclaimed land to the local authorities in exchange for a cash compensation of 109 million RMB. The company has applied to the Stock Exchange for the resumption of trading of its shares on January 14, 2025 at 9:00 am. The reclaimed land includes a plot located in Longwang Miao Village, Youyi Street, Jinzhou District, Dalian City, Liaoning Province, China (parcel number: 210102), with a total land area of approximately 246,091 square meters. The reclaimed land was originally intended for the development of a medical and health project in Jinzhou District, Dalian, with a planned construction area of approximately 123,046 square meters, as part of the group's property development and operations, with expected revenue recognition starting from the fourth quarter of 2025. However, as of the announcement date, the group's application to change the land use to commercial use has not been approved, and the reclaimed land remains undeveloped, considered idle land held by Dalian Jin Rijun Health Park. In accordance with the land planning regulations of Dalian City, Dalian Jin Rijun Health Park has agreed to return the reclaimed land to the local authorities as per the land recovery agreement.