OCT Asia (03366.HK) Hefei Land Resumption Agreement Signed, Total Compensation RMB1.725B

NewTimeSpace · 2026/06/24 20:52 · By Xuran Lin

OCT Asia (03366.HK) announced that Hefei OCT Industrial entered into the Hefei land resumption agreement with Hefei Municipal Land Reserve Center on June 17, 2026, with total compensation of RMB1.725 billion; the first installment of RMB1.33 billion was received on June 24, 2026, while the remaining RMB395 million is expected to be paid within two years after land listing and completion of delivery procedures; as of the announcement date, the Chaohu agreement has not yet been signed, and the proposed disposals may not proceed.

Overseas Chinese Town (Asia) Holdings Limited (03366.HK) announced on June 24, 2026, that reference is made to the Company's circular dated April 27, 2026 in relation to the disposal of land parcels through land resumption. Under Chapter 14 of the Listing Rules, each proposed disposal constitutes a very substantial disposal of the Company. The Company obtained shareholders' approval on May 13, 2026, after which Hefei OCT Industrial Co., Ltd. entered into the Hefei Agreement with Hefei Municipal Land Reserve Center on June 17, 2026 for the resumption of the Hefei land.

As stated in the circular, the total compensation for the Hefei land parcel is RMB1,725 million. Under the Hefei Agreement, the first installment of the compensation (totaling RMB1,330 million) was required to be paid within sixty days after the date of the Hefei Agreement and after the corresponding special bond funds were in place, and Hefei OCT Industrial received such payment on June 24, 2026. The remaining amount of RMB395 million shall be paid within ninety days after the land is listed and transacted and all land resumption delivery procedures are completed, which is expected to be within two years from the date of the Hefei Agreement.

As of the date of this announcement, Hefei Huan Chao has not yet entered into the Chaohu Agreement. The proposed disposals may or may not proceed.

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