China Fortune Land Development Co., Ltd (600325.SH) intends to revitalize the undeveloped commercial land in Shenzhen Qianhai Ice and Snow World project by repurchasing it from the government, with a total price of 4.405 billion yuan.

News from Zhitong Finance APP, China Fortune Land Development Co., Ltd. (600325.SH) announced that its wholly-owned subsidiary Shenzhen Ronghua Land Investment Co., Ltd. (referred to as "Ronghua Land") intends to dispose of 7 commercial land parcels of the Qianhai Ice and Snow World project it holds in Shenzhen Land Reserve Center (referred to as "Shenzhen Land Reserve Center") through repurchase, with a total area of 70,468 square meters and a price of 4.405 billion yuan.