SHENZHEN INT'L (00152) has announced the signing of a land use rights grant contract for the second phase of its South China Logistics Park redevelopment project. The company entered into the agreement with the Longhua Bureau of the Shenzhen Municipal Planning and Natural Resources Bureau for a specific parcel of land identified as 02-20-02. This land parcel, covering approximately 25,008 square meters, has an approved gross floor area of 145,940 square meters. The total land grant price for the parcel is approximately RMB 287 million. The relevant arrangements for this second-phase land parcel received official approval from the Longhua District government in December 2025. The company had already recognized the land preparation gains associated with this parcel in its 2025 financial results. This contract follows the earlier signing of a land grant contract for the first phase of the project in July 2025.