Zhi Tong Cai Jing·2025-08-01 13:55Core Viewpoint - China Resources Land (01109) announced a joint bidding agreement between its wholly-owned subsidiary Shanghai Hongzhe and independent third party Shanghai Nanfang for the equity and debt of target companies, indicating a strategic move to enhance its market presence in Shanghai [1] Group 1: Joint Venture and Acquisition Details - The joint venture successfully bid for 100% equity and debt of the target companies, with a total consideration of approximately RMB 24.47 billion, to be paid by Shanghai Hongzhe and Shanghai Nanfang at a ratio of 90% and 10% respectively [1] - The target companies include Shanghai Xinjizhou Enterprise Development Co., Ltd., Shanghai Xinjifang Enterprise Development Co., Ltd., Shanghai Xinzili Enterprise Development Co., Ltd., and Shanghai Xinxianfang Enterprise Development Co., Ltd. [1] Group 2: Strategic Importance of Shanghai - Shanghai is identified as one of China's high-tier cities and a strategic focus for the company, with the acquired projects located in core areas of the city, showcasing significant market potential [1] - The Yao Hua Road project and the Yu Qing Li project are highlighted for their advantageous locations, which are expected to enhance the company's competitive edge and brand presence in Shanghai [1] Group 3: Long-term Development and Investment Strategy - The acquisition aligns with the company's long-term development and investment strategy, aimed at consolidating and enhancing its market share, competitiveness, and brand influence in Shanghai [1] - The board believes that this acquisition will continue to provide investment returns and enhance the company's commercial impact [1]