Changes in Hong Kong stocks | China Resources Land (01109) rose nearly 3% and successfully bid to acquire all shares in Shenzhen Hubei Lexing Real Estate Development

The Zhitong Finance App learned that China Resources Land (01109) rose nearly 3%. As of press release, it had risen 2.71% to HK$31.1, with a turnover of HK$401 million.

According to the news, China Resources Land announced that on October 30, 2026, the buyer (Runspeed Entrepreneurship Service (Shenzhen) Co., Ltd.), a wholly-owned subsidiary of the company, participated in a public auction conducted by the Shenzhen Intermediate Court on the Jingdong Online Judicial Auction Platform and successfully won 100% of the shares of the target company (Shenzhen Hubei Lexing Real Estate Development Co., Ltd.) held by Hubei Shunrun Investment at a cost of RMB 1,109 billion. Once the acquisition is completed, the target company will become an indirect wholly-owned subsidiary of the company.

The target company is a limited liability company established in China on March 28, 2012, which is mainly engaged in real estate development and management. First, the target project involved a large number of people's livelihood matters such as relocation and resettlement. The group participated in the bidding as a listed company controlled by a central enterprise, which is an important measure to cooperate with local governments to bail out, maintain stability, and ensure delivery of social responsibilities. Second, the target project is a key project at the city and district levels. By participating in the auction to obtain target shares, the group can achieve wholly-owned ownership and lead development of the project, which is conducive to increasing business share in the local market, better revitalizing the project, and optimizing cash flow and operating efficiency.