Zhitong Finance App News, China Resources Land (01109) announced that on October 30, 2026, the buyer (Runspeed Entrepreneurship Service (Shenzhen) Co., Ltd., a wholly-owned subsidiary of the company) participated in a public auction conducted by the Shenzhen Intermediate Court on the JD.com Judicial Auction Platform and successfully competed for 100% of the shares of the target company (Shenzhen Hubei Lexing Real Estate Development Co., Ltd.) held by Hubei Shunrun Investment at a cost of RMB 1,109 billion.
As of the date of this announcement, the target company was wholly owned by Hubei Shunrun Investment, while Hubei Shunrun Investment held 60% and 40% of the shares respectively by the company and China Resources Trust. Once the acquisition is completed, the target company will become an indirect wholly-owned subsidiary of the company.
The target company is a limited liability company established in China on March 28, 2012, which is mainly engaged in real estate development and management. First, the target project involved a large number of people's livelihood matters such as relocation and resettlement. The group participated in the bidding as a listed company controlled by a central enterprise, which is an important measure to cooperate with local governments to bail out, maintain stability, and ensure delivery of social responsibilities. Second, the target project is a key project at the city and district levels. By participating in the auction to obtain target shares, the group can achieve wholly-owned ownership and lead development of the project, which is conducive to increasing business share in the local market, better revitalizing the project, and optimizing cash flow and operating efficiency.