SHENZHEN INTERNATIONAL HOLDINGS LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 00152)Shenzhen International Holdings Limited (the 'Company') is pleased to announce that Shenzhen International West Logistics Co., Ltd (深圳市深國際西部物流有限公司) ('West Logistics'), a wholly-owned subsidiary of the Company, recently entered into a land consolidation and preparation framework agreement (the 'Framework Agreement') with
Urban Planning Land and Resources Commission of the Shenzhen Municipality (深圳市規劃
和國土資源委員會) ('Shenzhen UPLRC') and Authority of Qianhai Shenzhen-Hongkong Modern Service Industry Cooperation Zone of Shenzhen (深圳市前海深港現代服務業合作 區管理局) ('Qianhai Authority') in respect of the Group's Qianhai Project.
Whereas the Group has been engaged in sound coordination and communication with relevant authorities under the Shenzhen Municipal Government in respect of the land consolidation and preparation for the 5 land parcels with an aggregate site area of approximately 380,000 square metres owned by the Group in Qianhai, the parties have presently agreed to conduct consolidation and preparation work in respect of the aforesaid land parcels by way of land swap, monetary compensation and profit sharing and have, accordingly, entered into the Framework Agreement.
Pursuant to the Framework Agreement, Shenzhen UPLRC and Qianhai Authority have agreed to arrange a land site with an area of approximately 38,800 square metres at Block 6, Unit 19 of Qianhai Shenzhen-Hong Kong Cooperation Zone (前海深港合作區19單元6街坊) as the site for the Group's Start-up Project (the 'Start-up Project'). The Start-up Project site is
located within Land Parcel No. T102-0069, one of the 5 land parcels currently owned by the Group, the land use of which has been changed from solely logistics warehousing to integrated land use comprising primarily office buildings complemented by high-end commercial and residential space, and such change is expected to result in a substantial increase in the value of the land parcel. The gross floor area of the Start-up Project will be approximately 100,000 square metres, and the total gross floor area will be up to approximately 160,000 square metres including basement commercial space and other underground space such as carparks. The Start-up Project has been designated by Qianhai Authority as a key construction project of Qianhai Free Trade Zone (前海自貿新城).
The Group has recently commenced preliminary preparations for construction, which is scheduled to start by the end of 2015. The Group has also agreed to hand over, by stages, certain land sites it holds in the Qianhai Area to Qianhai Authority, to the extent that such land sites have been designated for municipal use in the development planning for Qianhai.
Pursuant to the Framework Agreement, the parties have agreed that, the change in and handover of the other land titles owned by the Group in Qianhai and other practical matters shall be settled by way of land swap, monetary compensation and profit sharing in accordance with the principles laid down by the parties in the Framework Agreement, as shall be specified in the relevant Land Consolidation and Preparation Agreement to be entered into by the three parties in future.
The Group has developed the concept and basis of industrial integration in Qianhai following substantial investigation and research work in recent years conducted in accordance with the objective of the development planning for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, and its work has been endorsed by the Shenzhen Municipal Government. The Group will endeavour to build the Start-up Project into an exemplary model for innovations in the modern service industry of Qianhai. The entering into of the Framework Agreement signifies a major breakthrough in the Group's Qianhai Project and will also facilitate the construction of the 'Shenzhen International Qianhai Intelligent Hub', the Start-up Project.
By Order of the Board
Shenzhen International Holdings Limited Gao LeiChairman
Hong Kong, 5 October 2015
As at the date of this announcement, the board of directors of the Company consists of Messrs. Gao Lei, Li Jing Qi, Zhong Shan Qun, Liu Jun and Li Lu Ning as executive directors, Dr. Yim Fung, JP as non-executive director and Messrs. Leung Ming Yuen, Simon, Ding Xun and Nip Yun Wing as independent non-executive directors.
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