Zhitong Finance App News, Shenzhen Holdings (00604) announced that Shenzhen Taifu Logistics Group Co., Ltd. (Shenzhen Taifu), a limited company established in the People's Republic of China (China), and an indirect non-wholly-owned subsidiary of the Company. Shenye Taifu owns a six-story building with the first to sixth floors of the 830 Sungang Warehouse Building 830 and 831, Bao'an North Road, Luohu District, Shenzhen, China, with a total registered construction area of about 33468.24 square meters. The real estate certificate states that it is used as a warehouse. There is no dispute over ownership of the property, and there are no collateral, guarantees, or registered burdens. The Company intends to sell the property through a public listing on the Shenzhen Joint Stock Exchange.
The potential sale is a positive step taken by the Group to optimize its asset portfolio and will bring cash inflows to the Group, enabling it to concentrate resources to strengthen its core business and enhance its competitive position. The directors believe that the potential sale is in line with the Group's long-term strategic goals. Accordingly, the Group recommended a potential sale.
The public listing will be carried out through the Exchange Center, and the public listing bidding period has officially begun on the date of this announcement. During the tender period, potential bidders must pay a security deposit of RMB 51.4 million to the Exchange Center within the time specified by the Exchange Center. The sale shall be carried out on an “as is” basis. After the end of the tender period, if at least one valid bid equal to or above the reserve price has been received, the eligible bidder who submitted the highest bid will be determined as the winning bidder in accordance with the Tender Procedure of the Exchange Centre. After determining the successful bidder, the Exchange Center will notify Shenzhen Taifu accordingly. Shenzhen Pacific must enter into an asset transfer agreement with the winning bidder within five working days after receiving the relevant notice.
The reserve price for the public listing of the property is RMB 493 million, determined after taking into account (i) the property's business prospects and expected return on investment; and (ii) an independent valuer's valuation of the property on April 14, 2026.