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philiveybaccarat| China Energy Construction (03996.HK) subsidiary plans to transfer some land use rights and existing assets such as above-ground buildings in Tianxin District, Changsha, Hunan Province

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Gelonghui April 29, China's energy construction (03996Philiveybaccarat.HK) announcementPhiliveybaccaratOn April 29, 2024, the board of directors considered and approved the proposal to sign a survival asset transfer agreement between Hunan Electric Power Line equipment Co., Ltd. ("Hunan Wire Rod Company"), a subsidiary of the company, and China Energy Construction Group Asset Management Co., Ltd.PhiliveybaccaratAccordingly, Hunan Wire Rod Company agreed to pay a consideration of RMB 1 from the asset company.Philiveybaccarat02 million yuan purchased some of the land use rights and above-ground buildings and other existing assets ("target assets") at No. 88 and 126 Kaipu Road, Tianxin District, Changsha City, Hunan Province by non-public agreement transfer. After the completion of the relevant procedures for the target asset evaluation and filing, Hunan Wire Rod Company and the Asset Company will formally sign an agreement on the transfer of existing assets.

The target assets are the industrial real estate in two production areas located at No. 88 and 126 Xinkaipu Road, Tianxin District, Changsha City, Hunan Province, including 5 cases of land use rights and attachments such as all buildings, structures, ancillary facilities and equipment on the ground. and it includes water supply, power supply, drainage and other related facilities and immovable decoration which are inseparable from the real estate. And related land and property such as free transfer or government resumption in accordance with relevant policies. The target assets include a total land area of 85734.13 square meters and a total building area of 29606.84 square meters.

Beijing Renda Real Estate Land assets Evaluation Co., Ltd. adopted the cost method to carry out the evaluation on February 20, 2024, and issued a "Real Estate valuation report" numbered Rendafang [2024] No. 202401107003854. The total valuation price of the target assets is 102054700 yuan. Both Asset Company and Hunan Wire Rod Company have reached the terms of the agreement on the transfer of existing assets on the basis of the ownership of the above-mentioned target assets by the Asset Company and the evaluation results of the Real Estate valuation report filed by Nengjian Group.

philiveybaccarat| China Energy Construction (03996.HK) subsidiary plans to transfer some land use rights and existing assets such as above-ground buildings in Tianxin District, Changsha, Hunan Province

The target asset does not provide any form of security, including but not limited to the existence of collateral for the target asset, or any restrictions or obligations affecting the transfer of the target asset. The target assets have not been seized by any authorized agency and other compulsory measures.

After the transfer of the target assets, the property rights, certificates and accounts can be consistent, which will help to bring the target assets into the overall land and real estate collection scope of Hunan Wire Rod Company, promote the enterprise to "deal with difficulties" and invigorate idle assets.