CIMC Group to enter land compensation and relocation agreement

China International Marine Containers (CIMC) Group (HKEX: 2039) announced its subsidiary companies, Shenzhen Southern CIMC Containers Manufacture Co., Ltd. and Shenzhen CIMC Special Vehicles Co., Ltd., have reached an agreement regarding land consolidation and preparation work in Pingshan District, Shenzhen. The agreement, with Shenzhen Pingshan City Renewal and Land Development Bureau, will cover land under their ownership related to the CIMC Pingshan production base. The total monetary compensation amounts to RMB827,780,880, with RMB566,129,205 allocated to Shenzhen Southern CIMC Containers Manufacture Co., Ltd. and RMB261,651,675 to Shenzhen CIMC Special Vehicles Co., Ltd. The agreement aims to revitalize the Group's assets and is not deemed a discloseable transaction under Hong Kong Stock Exchange rules.