The Board announced that on 19 November 2025, Shanghai Shui On Urban Renewal (a subsidiary of the Company) entered into the Shareholders' Agreement with Shanghai Lujiazui, Shanghai Pudong Real Estate and Shanghai Sanlin for the joint venture arrangement in relation to the JV Company. The JV Company is expected to carry out the property redevelopment project at the Land in Xilin Village, Sanlin Town, Pudong New Area, Shanghai, the PRC. (i.e., the Sanlin Project).
The JV Company shall be owned as to 40% by Shanghai Lujiazui, 39% by Shanghai Pudong Real Estate, 11% by Shanghai Pudong real Estate, and 10% by Shanghai Sanlin. The Company has obtained the written approval of Shui On Properties Limited, Shui On Investment Company Limited, and New Rainbow Investments Limited on the Transactions pursuant to Rule 14.44 of the Listing Rules. As a result, no extraordinary general meeting will be convened to consider the Transactions.
A circular containing, among other things, further details of the Transactions, is expected to be despatched to the Shareholders for information purposes only within 15 business days after the publication of this announcement, i.e., on or before 10 December 2025.
