CHI MER LAND (00978.HK): Foshan land plot resumed, cash compensation of about RMB 569 million

NewTimeSpace News: On 16 September 2026, China Merchants Land Limited (stock code: 00978) announced that it had received the executed copy of an agreement for the resumption of state-owned land use rights dated 15 September 2026 entered into between its indirect non-wholly-owned subsidiary Foshan China Merchants Baohua Real Estate Co., Ltd. (Foshan Baohua), the Land Reserve Centre of Nanhai District, Foshan City and the Guicheng Subdistrict Office of Nanhai District, Foshan City in respect of the resumption of a land plot. The land plot is held by Foshan Baohua, is located in Nanhai District, Foshan City, the PRC, and covers a site area of approximately 17,602.90 square metres.

Pursuant to the land resumption agreement, the Land Reserve Centre agreed to resume the land plot, and the Guicheng Subdistrict Office will pay Foshan Baohua cash compensation of RMB 569,067,951.00 in aggregate. The relevant government authorities determined and confirmed the compensation based on their internal pricing standards and with reference to their internal valuation reports.

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