CONTIOCEAN (02613.HK): Wins tender to acquire land, property and equipment in Jiangsu for approximately RMB 78.47 million
NewTimeSpace News: On 1 September 2026, ContiOcean Environment Tech Group Co., Ltd. (stock code: 02613) announced that the tender was successfully concluded on 28 August 2026, and the seller entered into a contract with the buyer, as the winning bidder, on 1 September 2026, agreeing to transfer the land use right of the land and the ownership of the property and the equipment to the buyer for a consideration of approximately RMB 78.47 million (exclusive of tax).
The assets acquired include: the land located at No. 6 Kangye Road, Changjiang Town, Rugao City, Nantong City, Jiangsu Province, the PRC (with a site area of approximately 67,736 square metres and a remaining lease term of approximately 43 years, expiring on 21 January 2069); the property built in 2021 (with a total site area of approximately 37,930.77 square metres, comprising office buildings, factory buildings and a security room); and a set of auxiliary facilities and 20 overhead cranes. In respect of payment, the deposit of RMB 23.54 million paid on 26 August 2026 will be applied towards part of the consideration, and the balance of approximately RMB 54.93 million is payable to an escrow account within five business days from the date of the contract.
The buyer is the Company's wholly-owned subsidiary, Huige (Jiangsu) Marine Equipment Manufacturing Co., Ltd., and the seller, Shanghai Electric Yantong (Rugao) Construction Technology Co., Ltd., is a wholly-owned subsidiary of Shanghai Electric Yantong Construction Technology Group Co., Ltd., ultimately held by the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government. The Board considers that the acquisition is intended to expand the Group's production capacity, consistent with the Company's fundraising objectives and the designated use of proceeds, and that the Nantong region hosts one of the most developed shipbuilding and marine equipment supporting industries in the Yangtze River Delta and across China, offering significant cluster advantages. As the highest applicable percentage ratio exceeds 5% but is below 25%, the transaction constitutes a discloseable transaction of the Company; the consideration is intended to be funded by the proceeds from the Company's listing, internal resources and/or bank financing.
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