Shenzhen Investment Limited (00604) released a supplemental announcement dated 30 October 2025, providing additional details on a loan arrangement disclosed in an earlier 24 October 2025 announcement. The newly disclosed information highlights that the loans granted by Shenzhen Taiyuntong to two shareholders—Shum Yip Terra and Shenzhen Metro Real Estate—were conducted on a pro-rata basis in accordance with the Investment Cooperation Agreement (Investment Agreement) originally established at the entity’s formation.

Under the closed-loop fund management regime of Shenzhen Taiyuntong, any cash surplus beyond operating costs, financing obligations, and development needs over the next six months is used first to repay shareholder loans, followed by discretionary lending to shareholders in proportion to their equity interests. The supplemental information clarifies that the interest rate under the loan agreement was benchmarked to the cost of lending, which represents the benefit Shenzhen Taiyuntong would otherwise earn by placing excess funds on deposit.

Shenzhen Metro Real Estate, a wholly-owned subsidiary of Shenzhen Metro Group Co., Ltd., is ultimately state-owned through the Shenzhen Municipal Government. The announcement notes that Shenzhen Investment Limited’s credit assessment of Shenzhen Metro Real Estate took into account its status as a state-owned enterprise with strong government support.