KINGLAND GROUP (01751) has announced the completion of its acquisition of a 100% equity stake in Guangdong Fengxin Water Conservancy and Hydropower Engineering Co., Ltd. Guangdong Fengxin is a limited liability company registered in the People's Republic of China, possessing the necessary professional qualifications to conduct engineering business within the country.

The company holds a Grade III Certificate for General Construction Contracting of Construction Engineering, a Grade III Certificate for General Contracting of Power Engineering Construction, and a Grade II Certificate for Specialized Contracting of Building Decoration Engineering. Guangdong Fengxin is currently applying to upgrade its Construction Engineering and Power Engineering certificates to Grade II.

As of the announcement date, all procedures related to the share transfer and industrial and commercial registration changes for the target company have been finalized. The company has obtained the updated business license for Guangdong Fengxin issued by the market supervision authorities. Consequently, Guangdong Fengxin has officially become a wholly-owned subsidiary of the Group, and its financial performance will be consolidated into the Group's comprehensive financial statements.

The Group is actively expanding its engineering business segment in China, and this acquisition of Guangdong Fengxin aligns with its long-term development strategy. Through this acquisition, the Group will rapidly expand its engineering business footprint in China and enhance its market competitiveness.

This move is expected to strengthen the Group's sustained profitability and earning capacity, thereby creating greater value for its shareholders.