Kinetic Development Group Limited (Stock Code: 1277) has announced a discloseable and connected transaction involving the acquisition of 100% equity interests in Taiyuan Seedland Taijing Real Estate Development Co., Ltd. (“Taiyuan Seedland”) from Zunyi Seedland, alongside an additional connected transaction for the purchase of two Dongzhimen properties from Beijing Seedland.

Kinetic Qinhuangdao and Kinetic Shanxi, indirect subsidiaries of Kinetic Development, will acquire Taiyuan Seedland for RMB384 million, offset by previously paid amounts for properties whose registration has not yet been completed (the “2025 Terminated Properties Paid Amount”). The remaining equity consideration after offset is RMB130.27 million. Taiyuan Seedland’s main asset is the Haitang Huazhu Project in Taiyuan City, which comprises 34 residential buildings (8 currently under construction). This acquisition is subject to independent shareholders’ approval, and the company indicates it may or may not proceed.

Separately, Kinetic Qinhuangdao will acquire two Dongzhimen properties for a total of RMB86.33 million, less taxes and debt paid on behalf of Beijing Seedland, leaving a net consideration of RMB56.89 million. The deal offsets property management services payables owed to the group from prior transactions, with any surplus applied to potential new payables from Seedland.

According to the current disclosure, the first transaction requires approval under Chapters 14 and 14A of the Listing Rules due to its size and connected-party status, while the second transaction is exempt from shareholder approval given its thresholds. Kinetic Development plans to distribute a related circular on or before 31 March 2026, with further information regarding the acquisitions and the forthcoming extraordinary general meeting.