China Resources Land acquires target company for RMB200.8m

China Resources Land (CRL) announced the acquisition of 100% equity interest in a target company from its indirect wholly-owned subsidiary, the Vendor, for a consideration of RMB200,791,265.57. The target company, primarily involved in biotechnology promotion, holds land in Beijing's Daxing Biomedical Industry Base. The purchase agreement, dated May 23, 2025, stipulates a payment schedule including an initial 30% followed by the remaining 70% plus interest based on the one-year Loan Prime Rate (LPR). CRL will also assume the Vendor's obligations, becoming the creditor for an outstanding Shareholder's Loan of approximately RMB185,719,727.46. The acquisition, constituting a connected transaction under HKEX listing rules, is subject to customary closing conditions. CRL anticipates the acquisition to enhance its industrial layout and align with its urban investment strategy.