Hong Kong-listed C&D International Investment Group Limited (C&D Intl Group) announced a connected transaction with fellow C&D Inc. subsidiary Lianfa Group to co-develop two land parcels in Xiamen via Xiamen Lianxintai Investment Co., Ltd. (the Project Company).

The Project Company secured the land-use rights for the Xiting and Qiaoying parcels on 24 June 2026 with a winning bid of RMB2.06 billion. On 17 July 2026, C&D Intl Group’s wholly owned unit Xiamen Yi Yue Property signed a cooperation agreement under which it will acquire 49% of the Project Company from Lianfa Group, leaving Lianfa with the remaining 51%.

Yi Yue’s total capital commitment is estimated at RMB1.20 billion, comprising: • Reimbursement of RMB503.72 million already advanced by Lianfa for Yi Yue’s share of the deposit and initial land premium; • A capital injection of RMB700.70 million, to be made alongside Lianfa’s RMB729.30 million, raising the Project Company’s registered capital to RMB2.00 billion.

The balance of the land premium—approximately RMB1.03 billion—is payable by 24 June 2027. Future development funding will prioritise the Project Company’s own financing; any shortfall will be met by shareholder loans in proportion to equity stakes.

Corporate governance provisions stipulate a three-member board (two nominated by Lianfa, one by Yi Yue) with majority voting. Key shareholder resolutions—such as capital changes or corporate restructuring—require a two-thirds majority.

Financial snapshot of the Project Company (relating to earlier phases not covered by this cooperation): • Total assets: RMB6.05 billion at 31 Dec 2024; RMB8.66 billion at 31 Dec 2025. • Net assets: ‑RMB60.09 million (2024); ‑RMB377.40 million (2025). • Net loss after tax: ‑RMB78.92 million (2024); ‑RMB317.32 million (2025).

Under Hong Kong Listing Rules, Lianfa Group is a connected person as it is a subsidiary of C&D Inc., the controlling shareholder of C&D Intl Group. Because applicable percentage ratios are above 0.1% but below 5%, the transaction requires announcement and reporting but is exempt from independent shareholders’ approval. Directors who also serve on Lianfa’s board abstained from voting.

Management cites the deal’s benefits in expanding C&D Intl Group’s land bank in Xiamen and leveraging both partners’ development expertise to enhance capital efficiency while sharing project risks.