China Merchants Land (00978) announced that on April 29, 2026, Maoan Investment and Xi'an Maoan, both indirect wholly-owned subsidiaries of the company, entered into a cooperative development agreement with Shenzhen Haiyuejin and the project company, Xi'an China Merchants Garden City Real Estate Co., Ltd. Under this agreement, Shenzhen Haiyuejin has agreed to acquire a 30% equity stake in the project company by injecting registered capital, amounting to a capital contribution of RMB 174,454,286.

The primary asset of the project company is a land parcel situated in the Chanba International Port area of Xi'an, Shaanxi Province, China. The parcel, identified as CB2-2-272, is bounded by Ouyaliu Road to the north, Ouyawu Road to the south, Bahe West Road to the east, and Xingtai North Road to the west. It covers an area of approximately 77,321 square meters and is designated for residential use, with plans for development into residential properties.

As of the date of this announcement, the project company is an indirect wholly-owned subsidiary of China Merchants Land. Following the capital increase, the company will indirectly hold a 70% stake in the project company through Maoan Investment and Xi'an Maoan, and the project company will remain a subsidiary.

The capital injection following the equity sale is expected to enhance the group's financial flexibility, thereby strengthening its ability to participate in more real estate projects and expand its property development and investment portfolio. Consequently, the company considers the execution of the cooperative development agreement and the related transactions to be in its best interests.