CHINA NEW CONS (08275) has signed a memorandum of understanding with Hai Chuang Xin Yuan regarding a potential construction project.

China New Cons (08275) announced on January 16, 2026 that the Group has entered into a non-legally binding Memorandum of Understanding with Guangdong Haichuang Xinyuan Technology Co., Ltd. The memorandum relates to the construction project of Guangdong Haichuang Xinyuan Technology Industrial Park (potential construction project), with a total contract value of 450 million RMB. Haichuang Xinyuan is a limited company established in the People's Republic of China, mainly engaged in the development and operation of technology industrial parks. The technology industrial park focuses on the core development direction of automobile parts and related upstream and downstream industries. The total estimated investment of the technology industrial park is 2 billion RMB, with a total construction area of approximately 250,000 square meters. The technology industrial park is positioned as a "high standard industrial park in Panyu District," and will develop into a modern industrial complex that integrates top-grade office spaces, research and innovation facilities, light industrial production areas, high-standard factory buildings, and independent or semi-independent headquarters, aiming to establish a top-notch industrial-academic research ecosystem in the Greater Bay Area. The Company is strategically planning to expand its construction and operation within the People's Republic of China and aims to obtain multiple construction permits to assume the responsibilities of the general contractor. The Board of Directors believes that undertaking the potential construction project is aligned with the Company's development strategy and will help the Group seize business opportunities. The relevant business opportunities can enhance the Group's financial position and profitability, and contribute to the long-term business development of the Group.