C&D INTL GROUP (01908) introduces Lianfa Group to jointly develop and construct a residential project in Yuhang District, Hangzhou

C&D INTL GROUP (01908) announces that the project company successfully won the land use rights of Project Plot 1 and Project Plot 2 on June 23, 2026 and June 26, 2026 respectively, at a total consideration of approximately RMB2.886 billion. On October 20, 2026, Lianfa Group (a subsidiary of Xiamen C&D Inc.) entered into a cooperation agreement with Yiyue and Xiamen Zhaoyirong (each a wholly-owned subsidiary of the Company) and the project company, pursuant to which, among other things, the contracting parties agreed to develop and construct a residential project on the project plots through the project company, with Yiyue and Lianfa Group holding 50% and 50% interests in the project company respectively. The amount of capital commitment payable by Yiyue to the project company is expected to be approximately RMB2.791 billion. It is reported that Project Plot 1 is located at Plot YH090902-05, Future Sci-Tech City Unit, Yuhang District, Hangzhou City, Zhejiang Province, China, with a land area of approximately 45,864 square meters and an expected total gross floor area of not more than approximately 68,796 square meters. The land use of Project Plot 1 is residential land, and the land use rights grant term is 70 years. Project Plot 2 is located at Plot YH090902-07, Future Sci-Tech City Unit, Yuhang District, Hangzhou City, Zhejiang Province, China, with a land area of approximately 38,153 square meters and an expected total gross floor area of not more than approximately 40,061 square meters. The land use of Project Plot 2 is residential land, and the land use rights grant term is 70 years. The announcement states that entering into the cooperation agreement will enable (1) the Group and Lianfa Group to leverage their respective advantages and collaborate in developing the project plots, thereby improving land development and operational efficiency and capital utilization efficiency; and (2) the introduction of Lianfa Group to jointly develop the project plots will help the Group diversify funding pressure and share investment returns and risks with Lianfa Group.