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(incorporated in Hong Kong with limited liability)
(Stock code: 1668) VOLUNTARY ANNOUNCEMENT IN RELATION TO THE DEVELOPMENT OF AN INTEGRATED LOGISTICS AND TRADE CENTER IN CHONGQING
The Company is pleased to announce that on 17 January 2014, China South City Group entered into the Framework Agreement and Co-operative Agreement with the Chongqing Municipal Government and the Banan District Government respectively pursuant to which China South City Group has, in principle, agreed to undertake the construction and development of a large-scale integrated logistics and trade center in Banan District, Chongqing Municipality, Sichuan Province, the PRC ("Chongqing Project") with an estimated planned total net land
area of approximately 6.26km2 ("Chongqing Land").
The Company, through one or more of its subsidiaries, will bid for the Chongqing Land when such land is put up for tender, auction and listing-for-sale process by Banan District Government, which is anticipated to be rolled out in phases. Subject to the Banan District Government put up the Chongqing Land for tender, auction and listing-for-sale process and if the Company is being successful in bidding for such Chongqing Land in each phase, the Chongqing Project will accordingly be developed in phases and the development is expected to be more than 10 years.
Further announcement (if any) will be made by the Company in respect of Chongqing Project in accordance with the Listing Rules if and when required.
In this announcement, unless the context requires otherwise, the following expressions have the following meanings: