Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Shenzhen Investment Holdings Bay Area

Development Company Limited

深 圳 投 控 灣 區 發 展 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

Stock Codes: 737 (HKD counter) and 80737 (RMB counter)

VOLUNTARY ANNOUNCEMENT

SUCCESSFUL BID FOR THE LAND USE RIGHTS

OF THE PROJECT LAND BY THE PROJECT COMPANY

Reference is made to the announcement of the Company dated 29 November 2019 (the "Announcement") in relation to, among other things, the formation of joint venture among Shenwan Infrastructure, an indirect subsidiary of the Company, Guangdong Highway Construction, Lealu Investment and Leaxin Investment to participate in the bidding for the land use rights of the Project Land. Unless otherwise stated, definitions used herein shall have the same meanings as those defined in the Announcement.

The board of directors of the Company (the "Board") is pleased to announce that the Project Company has won the bid for the land use rights of the Project Land for a land premium of RMB4,124,000,000 and has entered into the grant contract for the state-owned construction land use rights of the Project Land with the Guangzhou Municipal Planning and Natural Resources Bureau on 25 December 2019.

The Company is of the view that the acquisition of the land use rights of and subsequent development of residential project on the Project Land by the Project Company enables the Company to maximise the value of the resumed land, and to benefit from the results of the development of the Project Land through its participation in the investment in the Project Company, thereby maximising shareholder's return.

By Order of the Board

Shenzhen Investment Holdings Bay Area

Development Company Limited

Ji LIU*

Executive Director and Deputy General Manager

Hong Kong, 27 December 2019

As at the date of this announcement, the Board comprises three Executive Directors namely, Mr. Tianliang ZHANG* (General Manager), Mr. Cheng WU* (Deputy General Manager) and Mr. Ji LIU* (Deputy General Manager and secretary to the Board); three Non-executive Directors namely, Mr. Zhengyu LIU* (Chairman), and Mr. Junye CAI* and Mr. Jiyang TANG*; and three Independent Non-executive Directors namely, Mr. Brian David Man Bun LI, Mr. Yu Lung CHING and Mr. Tony Chung Nin KAN.

* For identification purpose only

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HHI - Hopewell Highway Infrastructure Ltd. published this content on 27 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 December 2019 00:15:00 UTC