SHUI ON LAND (00272) announced that on January 16, 2026, the company's indirect non-wholly-owned subsidiary, Shanghai Zhaolou, acquired the land use rights for a plot located in Minhang District, Shanghai, China, through a public listing process. The subsidiary entered into a land grant contract with the relevant authority for a consideration of RMB 664.3 million (approximately HKD 739 million).

The acquisition pertains to the Zhaojialou project, an urban renewal development. The plot is situated within the Zhaojialou project area. In terms of public transportation, the location is adjacent to the Shanghai-Shenjiahu Expressway and the Shanghai North-South Elevated Road, surrounded by two subway lines, offering excellent connectivity to downtown Shanghai. The Zhaojialou project will preserve the unique historical and cultural character of Pujiang Town in Minhang District, with the site expected to be developed into a new landmark for Shanghai.

The Group believes the acquisition of this land parcel will serve as a strategic addition to its land bank, enhancing its market share and influence in Shanghai's residential property market. This move will further consolidate the Group's leading position in the field of urban renewal in Shanghai and is anticipated to generate substantial property sales revenue, thereby strengthening the Group's financial position.