CHI MER LAND (00978.HK): Acquires remaining 50% of Foshan Yiyun
- The Target Company will become an indirect wholly-owned subsidiary of China Merchants Land upon completion.
- The transfer consideration of RMB 114,890,000 will be paid in cash by Guangzhou China Merchants to Wharf Guangzhou.
NewTimeSpace News: On 16 October 2026, China Merchants Land Limited (stock code: 00978.HK) announced in a voluntary announcement that its indirectly wholly-owned subsidiary Guangzhou China Merchants Property Co., Ltd. will acquire a 50% equity interest in Foshan Yiyun Real Estate Co., Ltd. (the Target Company) from Wharf Estates (Guangzhou) Limited for RMB 937,680,000, plus creditor's rights of RMB 185,120,000, and will assume RMB 1,007,910,000 owed to the Target Company. The Target Company will become an indirect wholly-owned subsidiary of the Company on completion.
The transfer consideration equals RMB 937,680,000 plus RMB 185,120,000 of creditor's rights less RMB 1,007,910,000 of debt, being RMB 114,890,000 payable in cash by Guangzhou China Merchants to Wharf Guangzhou. It was set after arm's length negotiations with reference to the Target Company's net asset value as at 31 December 2025 and a preliminary valuation of the sale equity.
- CHI MER LAND (00978.HK): Foshan land plot resumed, cash compensation of about RMB 569 million
- CHI MER LAND (00978.HK): Enters Property Lease Agreement for 60 Months, Leasing Office Premises in Shenzhen
- CHI MER LAND (00978.HK): JV bid of HKD 1.03 billion for Hung Shui Kiu land accepted, constituting discloseable transaction under alternative size test
- CHI MER LAND(00978.HK): 2026 Interim Report - Profit Attributable to Shareholders stood at loss of CNY 226.95 million, loss narrowed by 1.72% YoY
