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 Chinese OA System
08 2019.11
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CHINA MERCHANTS LAND PUSHES FORWARD ON INNOVATIVE STRATEGIC PLANNING FOR REIT MANAGEMENT BUSINESS ACROSS CHINA FURTHER DEVELOPING ITS ASSET MANAGEMENT BUSINESS

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8 November 2019 – China Merchants Land Limited (“China Merchants Land” or “the

Company”, stock code: 00978) and its subsidiaries (the “Group”) held an extraordinary

general meeting today, in which the independent shareholders unanimously approved the

re-amended and restated non-competition deed (the “Re-Amended and Restated NonCompetition

Deed” that the Group entered with its controlling shareholder China Merchants

Shekou Industrial Zone Holdings Co., Ltd (“CMSK”). Pursuant to the Re-Amended and

Restated Non-Competition Deed, China Merchants Land will be able to carry out REIT

management business in all cities across China, in order to further optimize its asset-light

property business and to expand potential asset-light property business opportunities.

According to the Re-Amended and Restated Non-Competition Deed, China Merchants

Land will have the rights to participate in the REIT management business for REITs with

underlying properties permitted to be situated in all over China on an exclusive basis. The

Group is entitled to receive cash and/or units in the REITs.

Through the Re-Amended and Restated Non-Competition Deed, China Merchants Land

will complete the financing channel for the whole industry chain of investment properties,

and capitalize on the synergy between private equity funds and REITs to form a closed loop

of incubation and financing. Last year, China Merchants Land acquired shares in a RMB5

billion Beijing and Shanghai real estate fund. It also acquired the office assets management

business in Beijing and Shanghai from its controlling shareholder, CMSK. China Merchants

Land, on the one hand, establishes itself as a real estate private equity fund incubating and

enhancing the value of investment properties; on the other hand, as a REIT managing

mature investment properties; it will achieve effective synergy in real estate private equity

fund and REIT, in order to realise asset appreciation while enhancing professional asset management capability.

China Merchants Land amended and restated the non-competition deed entered with

CMSK at the end of last year and late this year, striving to push ahead with its asset

operation and management business, REIT management and minority investment of

property development. The new strategic position for China Merchants Land’s “property

finance” and “asset management businesses”, which aim to promote city and industrial

park development, has formed. With the support of the abundant investment properties and

land reserves held by CMSK, the distinctive “property finance” and “asset management

businesses” of China Merchants Land will be replicated and developed rapidly, and have

enormous business potential.

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