CHINA RES LAND (01109.HK): Wins RMB1.11bn Bid for Hubei Lexing Stake

NewTimeSpace News: On 30 October 2026, China Resources Land Limited (stock code: 01109) published a connected transaction announcement. Its wholly-owned subsidiary Runjiasu Chuangye Services (Shenzhen) Co., Ltd. won a public auction conducted by the Shenzhen Intermediate People's Court on JD.com's judicial auction platform, acquiring the 100% equity interest in Shenzhen Hubei Lexing Real Estate Development Co., Ltd. held by Hubei Shunrun Investment for RMB1.109 billion.

The announcement stated that the auction was carried out in the enforcement of a loan dispute between Runzhi Holdings and Hubei Shunrun Investment. The bid price equalled the starting price, and an independent appraiser valued the target equity at about RMB1.98 billion. Of the consideration, the buyer has paid a RMB222 million deposit, with the remaining balance of about RMB887 million payable by 13 November 2026. Upon completion, the target company will become an indirect wholly-owned subsidiary.

As Hubei Shunrun Investment is 60% and 40% held by the company and China Resources Trust respectively, and China Resources Trust is 51% held by the controlling shareholder China Resources Co., the acquisition constitutes a connected transaction subject to the reporting and announcement requirements under Chapter 14A of the Listing Rules but exempt from independent shareholders' approval. The company said the target project involves livelihood matters such as resettlement, and the acquisition supports local government relief efforts and delivery guarantees while enabling full ownership and leading development of a key project.