Shenzhen Agricultural Products subsidiary gains properties, significant profit boost from urban renewal

Shenzhen Agricultural Products Group Co., Ltd. announced its wholly-owned subsidiary, Shenzhen Guocai Trading Co., Ltd., has obtained resettlement properties following an urban renewal project. Guocai Company’s original property in Futian District, Shenzhen, with a land area of 3,000.97 square meters and a building area of 3,486.53 square meters, was part of the renewal. In 2019, Guocai Company signed a relocation agreement, opting for property-for-property exchange.

The urban renewal project is now complete. Guocai Company received units 1002, 1201, 1202, 1301, and 1801 of Building 1 in Huali Plaza, totaling 3,840.23 square meters (including apportioned areas), along with the usage rights for 16 parking spaces.

An appraisal valued these resettlement properties at 13,287.20 million yuan. This transaction is expected to increase the company's 2025 pre-tax profit by approximately 13,040 million yuan, subject to final audit.