Chinese overseas development (00688) subsidiary plans to acquire equity of two target companies

Wisdom Financial News APP message, China Overseas Development (00688) announced that on September 5, 2025, the consortium of bidders (namely China Enterprise Development (an indirect wholly-owned subsidiary of the Company), Shanghai Hongrun and Hangzhou Lvyou) and the transferor entered into a property transaction contract for the acquisition. China Enterprise Development will acquire 50.5% equity and related proportionate debt rights of Target Company A (Shanghai Xindongan) and 30.5% equity of Target Company B (Shanghai Xinbaian). China Enterprise Development is expected to contribute approximately RMB 7.341 billion and RMB 0.812 billion respectively to acquire the equity interests of Target A and Target B. Target Company A owns the land for the Dong'an project. Upon completion, Target Company A will be consolidated as a subsidiary of the Company, while Target Company B will be accounted for as an associated company of the Group.