According to the Zhitong Finance App, China Merchants Land (00978) issued an announcement. On August 31, 2026, the tenant (an indirect wholly-owned subsidiary of the Company) signed a property lease agreement with the owner to lease such properties.
According to the announcement, these properties are located in properties 3401 and 3402A, New Times Square Phase II (China Merchants Shekou Plaza), No. 5, Taizi Road, Nanshan District, Shenzhen, China, with a total construction area of about 996.96 square meters (including stall area). The permitted and designated use of such properties is for office use.
These properties will be used as the lessee's main place of business and office property in Shenzhen to support its investment management and operating activities. The directors believe that leasing such properties is necessary for the operation of such properties, so that tenants can effectively perform their business functions in Shenzhen, and that these properties are located in an excellent location in the core area of Shekou, have convenient transportation networks, high-rise seats facing the east, and are well-decorated to provide a high-quality working environment, thereby enhancing the Group's corporate image. Furthermore, the owners and operators of these properties and the broader New Times Square Phase II (China Merchants Shekou Plaza) commercial complex have the expertise and ability to provide high-quality property management and leasing services for such properties; moreover, the payment terms are beneficial to the Group. Accordingly, there is no need to pay a rental deposit, further reducing the Group's initial capital expenditure and cash flow burden.