S HARBOURHOLD (01663.HK): Subsidiaries enter into project repayment agreement with contractor, land in Leping mortgaged as security

NewTimeSpace News: On 25 August 2026 , Sino Harbour Holdings Group Limited (stock code: 01663) announced that the Company's subsidiaries, Jiangxi Ganghong Industrial Co., Ltd. (Jiangxi Ganghong) and Leping Runfeng Real Estate Development Co., Ltd. (Leping Runfeng), have entered into a project repayment agreement with Jiangxi Gaoneng Construction Engineering Co., Ltd. (Gaoneng Construction), an independent third-party construction contractor.

The announcement stated that, under the agreement, Gaoneng Construction has conditionally agreed to accept repayment by Jiangxi Ganghong of the outstanding contract balance of approximately RMB 65 million in respect of a construction project for which Gaoneng Construction had provided services to Jiangxi Ganghong (the Outstanding Contract Balance). The Outstanding Contract Balance will be repaid by instalments in accordance with the repayment schedule set out in the agreement, with the final instalment due in December 2029. As security for the timely repayment of the Outstanding Contract Balance, Leping Runfeng has mortgaged the land use right of a parcel of land in Leping City, Jiangxi Province, the PRC (the Mortgaged Property) to Gaoneng Construction (the Mortgage); upon full and timely performance of the payment obligations under the agreement, the debt represented by the Outstanding Contract Balance will be fully settled and the Mortgage will be released in accordance with the terms of the relevant security documents.

The Company is continuously making efforts to raise funds for the repayment of the Outstanding Contract Balance, and the board believes that the Mortgage will not have any material adverse impact on the business and/or operations of the Group. The Company will notify shareholders and potential investors of any material developments by way of further announcements in due course.

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