Shenzhen Investment : Announcements and Notices - Voluntary Announcement in Relation to the Disposal of Undeveloped Land in Heyuan

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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 Hong Kong with limited liability)

(Stock Code: 604)

VOLUNTARY ANNOUNCEMENT

IN RELATION TO THE DISPOSAL OF UNDEVELOPED LAND IN HEYUAN

Shenzhen Investment Limited (the "Company", together with its subsidiaries, the "Group") wishes to provide to the shareholders of the Company the attached press release regarding the disposal of undeveloped land in Heyuan of the Group ("Transaction").

As all the applicable percentage ratios (as defined in rule 14.07 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) for the Transaction are less than 5%, the Transaction does not constitute a notifiable transaction for the Company under Chapter 14 of the Listing Rules. This is a voluntary announcement made by the Company.

By Order of the Board

SHENZHEN INVESTMENT LIMITED LU Hua

Chairman

Hong Kong, 18 January 2016

As at the date of this announcement, the Board comprises 9 directors, of which Mr. LU Hua, Mr. HUANG Wei, Mr. MOU Yong and Mr. LIU Chong are the executive directors of the Company, Dr. WU Jiesi and Mr. HUANG Yige are the non-executive directors of the Company and Mr. LI Wai Keung, Mr. WU Wai Chung, Michael and Dr. WONG Yau Kar David are the independent non-executive directors of the Company.

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[For immediate release]

SHENZHEN INVESTMENT ANNOUNCED THE DISPOSAL OF UNDEVELOPED LAND IN HEYUAN

(18 January 2016 - Hong Kong) Shenzhen Investment Limited ("SZI" or "Group", SEHK stock code: 604.HK) announced the entering into an agreement between its subsidiary and the local government in Heyuan in relation to the resumption of undeveloped land in Saina Bayin Heyuan by local government. This represented further steps to divest projects in the third and fourth-tier cities.

SZI's subsidiary owns the remaining land parcels of the Heyuan Saina Bay project with a total site area of approximately 800,000 square meters, of which developed land is around 180,000 square meters and undeveloped land area is around 620,000 square meters. According to the agreement, the local government will resume the undeveloped area of approximately 620,000 square meters and will return a land price of approximately RMB 699 million after the land is sold through public listing-for-sale. The government will activate the land sale as soon as possible, and the land, which can be sold in parcels, will be put up for public listing-for-sale once at least every six month. After each land sale, corresponding land price and a portion of premium will be paid to the company. The land resumption price is based on the original cost of the land acquisition made by the company. Therefore, the interest expenses and preliminary fees incurred after the land was first acquired by the company will lead to slight losses. However, no further capital injection will be required nor expenditure will be incurred hereafter in relation to such lands.

The divestment from the undeveloped land in Heyuan has effectively realized the Group's strategies of disposal of projects in the third and fourth-tier cities, optimized land reserve structures, mobilized inefficient assets and reduced risks to which the Group is exposed.

SZI will continue to implement the strategy of intensifying the development in Shenzhen, continue to transform its business model towards "developing, sale, holding and management equally", actively develop "asset-light" management and service businesses so as to provide better return for shareholders.

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For enquiries, please contact:

Shenzhen Investment Limited	Financial PR (HK) Ltd
Nicole Zhou	Dawn Lee
Tel: (852) 2312 8746	Tel: (852) 2610 0846
Email: zhouq@shumyip.com.hk	Fax: (852) 2610 0842
Email:dawnlee@financialpr.hk