Shenzhen Invest (00604) fourth quarter real estate sales business contract sales amounted to approximately 9.036 billion yuan.

SHENZHEN INVEST (00604) announced that the unaudited total contract sales of the group's real estate business in the fourth quarter of 2024 is approximately 9.036 billion RMB, with a contract sales area of approximately 289,311 square meters. The group seized the warming trend of the Shenzhen real estate market in the fourth quarter, accurately executed marketing strategies, and achieved strong sales in multiple projects: Shenye Upper City Xuefu in Longhua District sold out as soon as it opened, with contracts totaling 2.55 billion RMB; Yiyuefu in Longhua District signed contracts worth 1.53 billion RMB; and Tairuifu in Longgang District signed contracts worth 810 million RMB. In addition, projects in Shanghai and Chengdu also achieved significant sales results. For the full year of 2024, the unaudited total contract sales of the group is approximately 16.967 billion RMB, with a total contract sales area of approximately 603,389 square meters, and an average selling price of approximately 28,120 RMB per square meter. In terms of property leasing business, the group continues to upgrade and renovate its properties, transforming the Chegongmiao area into a nighttime economic hub, where rental prices have increased by over 50%. This not only enhances asset value but also improves the commercial environment, attracting external consumer groups. The old barracks at Bagualing have been upgraded and transformed into a long-term apartment project called "Shenye Lingli," with average rents rising by 245%. This helps eliminate major risks associated with old properties while increasing asset value. In the retail sector, the group signed contracts with 200 new brand merchants and renewed contracts with over 80 merchants. Shenye Upper City strengthened its "first launch economy," adding 30 new national and regional first stores, with a brand change rate of 41%. Its sales in 2024 reached 6 billion RMB, with an annual foot traffic of 46 million people, showing double-digit growth compared to 2023. Premium brands have increased rental income for multiple retail complexes, further upgrading the business district. Shenye Upper City's office spaces continue to consolidate their foundation and actively optimize customer structure, with nearly 70% of high-quality clients coming from industries such as high technology, finance, and professional services. In terms of park operations, the park's industrial ecological operating model has been further optimized. The controlling shareholder, Shenye Group, leveraged its capital platform to launch a groundbreaking "park + fund" operational model by setting up an industrial investment fund to attract high-quality science and technology enterprises to settle in Shenye's Dongjiang Industrial Park, enhancing the park's technology industry investment service capabilities and promoting positive interaction and coordinated development between the park and the fund. In the comprehensive urban operations sector, the group has made continued breakthroughs in expanding and cooperation modes in commercial properties and park properties. Shenye successfully won the bid to manage the integrated operation of Shenzhen Science and Technology Museum and Shenzhen Science Museum. The group also established a joint venture with Shenzhen Radio, Film, and Television Group, deepening cooperation and convergence of quality resources to enhance mainstream media influence and professional operational efficiency. On January 6, 2025, Shenye successfully won the bid to provide property services for Shenzhen Kaifa Technology Innovation Park, helping to transform the park into a benchmark industrial park for the Guangdong-Hong Kong-Macao Greater Bay Area's "industrial chain restructuring, value chain enhancement, and innovation chain perfection." In terms of commercial operations, the Ministry of Finance and four other departments jointly issued a notification on perfecting the policy for downtown duty-free shops, specifying the establishment of a downtown duty-free shop in eight cities including Shenzhen. The first downtown duty-free shop in Shenzhen will be located in Shenye Upper City. The group will construct and operate the first duty-free shop in Shenzhen to capitalize on cross-border tourism trends, creating a one-stop consumer experience of "cross-border tourism + duty-free shopping" in Shenye Upper City, helping it become a distribution hub for Chinese products going global and supporting Shenzhen in accelerating the construction of an international consumer center city. On January 6, 2025, the group announced a new "3+X" commercial product line strategy, launching urban-level, regional-level, community-level, and non-standard commercial "3+X" product line matrix to precisely match diverse commercial demands. The group is expanding its commercial operation layout, pushing for external expansion, and successfully signing commercial project operation and management contracts with several Shenzhen state-owned enterprises, including the Shenzhen Metro Huangmugang project, Shenzhen Capital Operation Houhai project, and Futian Agricultural Wholesale Market. The Shenzhen Metro Huangmugang project is planned to be transformed into a new comprehensive hub commercial landmark, set to open in 2025. SHENZHEN INVEST will continue to uphold its corporate vision of being a "creator of industrial and urban innovation, and an operator of happy livelihoods," accelerating the establishment of a new development model, actively promoting the transformation of its business towards urban asset management, comprehensive operations, and technology industry investment services, and ensuring the group's high-quality development.