China Enterprise secures full equity in Shanghai Xinfeng'an, expands project portfolio

China Enterprise Co., Ltd. and its wholly-owned subsidiary, Shanghai Landrill Property Co., Ltd., in a consortium with Shanghai Xinqi Hongchuang Property Co., Ltd., a wholly-owned subsidiary of Chenjia Development Group Co., Ltd., successfully bid for 100% equity in Shanghai Xinfeng'an Enterprise Development Co., Ltd. The total transaction price for Xinfeng'an Company's 100% equity and related creditor's rights is RMB 298,722.256825万元. Landrill Property holds 70% of the equity, contributing RMB 209,105.579778万元, while Xinqi Hongchuang holds 30%, contributing RMB 89,616.677047万元.

The acquisition of Xinfeng'an Company, which holds the development and management rights for the "Shenjiali" plot in Xuhui District, aligns with China Enterprise's strategic development and operational needs, enhancing its project reserves. The transaction is considered a related party transaction as Shanghai Urban Renewal Construction and Development Co., Ltd., the seller, is a controlled subsidiary of Shanghai Land Group Co., Ltd., China Enterprise's controlling shareholder.

The transaction received approval from China Enterprise's board of directors on August 27, 2025. The total bid amount falls within the RMB 100亿元 investment limit approved by the company's 2024 annual general meeting for 2025 project reserves.