招商局置地（00978.HK）间接全资附属公司与招商蛇口附属公司签署深圳办公物业租赁协议，构成低比例关连交易

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited
take no responsibility for the contents of this announcement, make no representation as to its
accuracy or completeness and expressly disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.

CHINA MERCHANTS LAND LIMITED
招商局置地有限公司
(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 978)

CONNECTED TRANSACTION
PROPERTY LEASE AGREEMENT
PROPERTY LEASE AGREEMENT
On 31 August 2026, the Tenant, an indirect wholly-owned subsidiary of the Company,
entered into the Property Lease Agreement with the Landlord for the lease of the
Premises.
LISTING RULES IMPLICATIONS
As at the date of this announcement, the Landlord is a direct wholly-owned subsidiary of
CMSK, which is a controlling shareholder of the Company holding approximately
74.35% of the Company’s issued share capital. Accordingly, the Landlord is an associate
of CMSK pursuant to Rule 14A.13(1) of the Listing Rules, and therefore a connected
person of the Company under the Listing Rules.
In accordance with HKFRS 16, the Group will recognize the lease of the Premises under
the Property Lease Agreement as right-of-use assets in its consolidated financial
statements. Therefore, the entering into of the Property Lease Agreement will be regarded
as an acquisition of assets by the Company for the purpose of the Listing Rules, which
will constitute a one-off connected transaction of the Company under Chapter 14A of the
Listing Rules.

–1–

As the highest of all applicable percentage ratios in respect of the value of the right-of-use
asset to be recognised by the Group under the Property Lease Agreement is more than
0.1% but less than 5%, the entering into of the Property Lease Agreement and the
transactions contemplated thereunder are subject to reporting and announcement but
exempt from the circular (including independent financial advice) and independent
shareholders’ approval requirements pursuant to Rule 14A.76(2) of the Listing Rules.

On 31 August 2026, the Tenant, an indirect wholly-owned subsidiary of the Company,
entered into the Property Lease Agreement with the Landlord for the lease of the Premises.
PROPERTY LEASE AGREEMENT
The principal terms of the Property Lease Agreement are set out as follows:
Date:

31 August 2026

Parties:

(a)

The Landlord, a direct wholly-owned subsidiary of
CMSK and a connected person of the Company, as
landlord; and

(b)

The Tenant, an indirect wholly-owned subsidiary of
the Company, as tenant.

Term:

The Property Lease Agreement has a term of sixty months
commencing from 1 September 2026 and ending on 31
August 2031.
If the Landlord intends to continue to lease out the Premises
upon expiry of the Property Lease Agreement, the Tenant
has a right of first refusal to renew the lease, provided that
the Tenant gives a three-month prior written notice to the
Landlord and the Tenant has committed no default during
the lease term.

–2–

Premises:

The Premises are located at Units 3401 and 3402A, Times
Square Phase II (China Merchants Shekou Plaza), No. 5 Taizi
Road, Nanshan District, Shenzhen, the PRC (中國深圳市南山
區太子路5號新時代廣場二期（招商蛇口廣場）號樓3401、
3402A物業), with a total gross floor area of approximately
996.96 sq.m. (including apportionment of common area). The
permitted and designated use of the Premises is for office
purposes.

Rent and payment terms:

The Tenant shall pay a fixed rent to the Landlord in the
amount of RMB219,331.2 per month (including
value-added tax) during the lease term. The initial rent for
the period from 1 September 2026 to 31 December 2026 in
the amount RMB877,324.8 will be payable within 10
working days after the signing of the Property Lease
Agreement. Subsequent rent is payable on an annual basis
and must be settled before the 10 th day of the first month of
each year.
The amount of rent is determined through arm’s length
negotiations between the Landlord and the Tenant with
reference to (i) the qualitative attributes of the Premises,
including its building specifications as a super Grade A
office building, year of completion, floor level and seafront
view orientation, taking into account the prevailing rental
rates of lower-floor units within the same building and
comparable office premises in the vicinity; and (ii) the
delivery condition of the Premises and payment terms,
taking into account its fully fitted-out condition and the
waiver of rental deposit. The rent payable under the
Property Lease Agreement will be satisfied by the Group’s
internal resources.

–3–

Break clause:

The Landlord shall be entitled to terminate the Property
Lease Agreement early upon the occurrence of any of the
following events:
(a)

any material breach of the terms of the Lease
Agreement or default in performance of obligations by
the Tenant;

(b)

the receipt by the Tenant of any litigation preservation
ruling, execution enforcement order, or petition for
winding-up which affects the normal performance of
the Property Lease Agreement;

(c)

the bouncing of any cheque issued by the Tenant due to
insufficient funds in its designated bank accounts;

(d)

any damage caused to the Premises by the Tenant,
where the Tenant refuses to reinstate or rectify such
damage upon request by the Landlord; or

(e)

any unlawful acts by the Tenant during the lease term
or its failure to comply with administrative
rectification orders issued by competent government
authorities within the prescribed period which results
in legal penalties or adverse media exposure, or where
such actions of the Tenant pose potential risks to the
continuous performance of the Property Lease
Agreement or may otherwise adversely affect the
Landlord.

RIGHT-OF-USE ASSET UNDER THE PROPERTY LEASE AGREEMENT
Pursuant to HKFRS 16, the value of the right-of-use asset to be recognised by the Group
under the Property Lease Agreement is estimated to be RMB14,244,200.05, which is the
present value of the aggregated lease payments to be made under the Property Lease
Agreement. Shareholders should note that the above figure is unaudited and may be subject to
adjustment in the future.
To the best of the Directors’ knowledge, information and belief having made all reasonable
enquiries, the original acquisition cost of the ownership of the Premises to the Landlord was
RMB26,814,489.27.
–4–

INFORMATION OF THE PARTIES
The Tenant, a company established in the PRC with limited liability, is principally engaged in
investment holding.
The Landlord, a company established in the PRC with limited liability, is principally engaged
in non residential property leasing and commercial complex management services. The
Landlord is a direct wholly-owned subsidiary of CMSK, a company established in the PRC
with limited liability, the shares of which are listed on the Shenzhen Stock Exchange (Stock
code: 001979). CMSK’s controlling shareholder is CMG, which holds more than 58% of the
total issued share capital of CMSK and is a state-owned conglomerate regulated by the
national State-Owned Assets Supervision and Administration Commission of the State
Council.
REASONS FOR AND BENEFITS OF THE TRANSACTION
The Group is principally engaged in the development, sale, lease, investment and
management of properties and assets management.
The Premises will be used as the Tenant’s principal place of business and office premises in
Shenzhen to support its investment management and operational activities. The Directors
consider that the leasing of the Premises is operationally necessary for the Tenant to
effectively carry out its business functions in Shenzhen, and that the Premises’ strategic
location in the prime Shekou area, with its convenient transportation links, high floor east
facing seafront view and fitted out condition, provides a quality working environment that
enhances the Group’s corporate image. In addition, the Landlord is the owner and operator of
the Premises and the wider Times Square Phase II (China Merchants Shekou Plaza)
commercial complex and it possesses the professional expertise and capabilities to provide
quality property management and leasing services for the Premises; and the payment terms
are favourable to the Group under which no rental deposit is required, further reducing the
Group’s initial capital outlay and cash flow burden.
The Directors (including all the independent non-executive Directors) have confirmed that
the terms of the Property Lease Agreement and the transactions contemplated thereunder are
fair and reasonable, on normal commercial terms or better which have been arrived at after
arm’s length negotiations and in the ordinary and usual course of business of the Group, and
in the interests of the Company and its Shareholders as a whole.

–5–

As (i) Mr. ZHU Wenkai and Mr. YU Zhiliang, each a non-executive Director, hold senior
management positions in CMSK and (ii) Mr. LI Yao, a non-executive Director, and
Mr. WONG King Yuen and Ms. CHEN Yan, each an executive Director, hold positions in
CMSK’s associates, in order to avoid any actual or potential conflict of interest, each of them
had abstained from voting at the relevant board meeting on the relevant resolution approving
the Property Lease Agreement and the transactions contemplated thereunder.
LISTING RULES IMPLICATIONS
As at the date of this announcement, the Landlord is a direct wholly-owned subsidiary of
CMSK, which is a controlling shareholder of the Company holding approximately 74.35% of
the Company’s issued share capital. Accordingly, the Landlord is an associate of CMSK
pursuant to Rule 14A.13(1) of the Listing Rules, and therefore a connected person of the
Company under the Listing Rules.
In accordance with HKFRS 16, the Group will recognize the lease of the Premises under the
Property Lease Agreement as right-of-use assets in its consolidated financial statements.
Therefore, the entering into of the Property Lease Agreement will be regarded as an
acquisition of assets by the Company for the purpose of the Listing Rules, which will
constitute a one-off connected transaction of the Company under Chapter 14A of the Listing
Rules.
As the highest of all applicable percentage ratios in respect of the value of the right-of-use
asset to be recognised by the Group under the Property Lease Agreement is more than 0.1%
but less than 5%, the entering into of the Property Lease Agreement and the transactions
contemplated thereunder are subject to reporting and announcement but exempt from the
circular (including independent financial advice) and independent shareholders’ approval
requirements pursuant to Rule 14A.76(2) of the Listing Rules.

–6–

DEFINITIONS
In this announcement, unless the context otherwise requires, the following expressions have
the following meanings:
“associate(s)”

has the meaning ascribed hereto in the Listing Rules

“Board”

the board of Directors

“CMG”

China Merchants Group Limited (招商局集團有限公司), a
PRC enterprise regulated and directly managed by the
State-owned Assets Supervision and Administration
Commission of the State Council, being the immediate
controlling shareholder of CMSK holding more than 58% of
the total issued share capital of CMSK

“CMSK”

China Merchants Shekou Industrial Zone Holdings
Company Limited (招商局蛇口工業區控股股份有限公司),
a company established in the PRC with limited liability,
whose shares are listed on the Shenzhen Stock Exchange
(stock code: 001979 (A share)), being the intermediate
controlling shareholder of the Company and indirectly holds
approximately 74.35% of the total issued share capital of the
Company as at the date of this announcement

“Company”

China Merchants Land Limited, a company incorporated in
the Cayman Islands with limited liability, the Shares of
which are listed on the Main Board of the Stock Exchange
(stock code: 978)

“connected person”

has the meaning ascribed to it in the Listing Rules

“Directors”

the directors of the Company

“Group”

the Company and its subsidiaries

–7–

“HKFRS 16”

Hong Kong Financial Reporting Standards 16 “Leases”
which includes standards and interpretations promulgated
by the Hong Kong Institute of Certified Public Accountants

“Landlord”

Shenzhen Shekou Xintai Real Estate Co., Ltd.* (深圳市蛇
口新泰置業有限公司), a company established in the PRC
with limited liability and a direct wholly-owned subsidiary
of CMSK

“Listing Rules”

The Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited, as amended from time to
time

“PRC”

the People’s Republic of China (excluding, for the purposes
of this announcement, Hong Kong, the Macau Special
Administrative Region and Taiwan)

“Premises”

Units 3401 and 3402A, Times Square Phase II (China
Merchants Shekou Plaza), No. 5 Taizi Road, Nanshan
District, Shenzhen, the PRC (中國深圳市南山區太子路5號
新時代廣場二期（招商蛇口廣場）號樓3401、3402A物業)

“Property Lease Agreement”

the property lease agreement dated 31 August 2026 entered
into between the Tenant and the Landlord in relation to the
lease of the Premises

“RMB”

Renminbi, the lawful currency of the PRC

“Share(s)”

the ordinary share(s) of HK$0.01 each in the issued share
capital of the Company

“Shareholder(s)”

shareholders of the Company

“sq. m.”

square metre

“Stock Exchange”

The Stock Exchange of Hong Kong Limited

“subsidiary”

has the meaning ascribed to it in the Listing Rules

–8–

“Tenant”

China Merchants Land (Shenzhen) Co., Ltd.* (招商局置地
（深圳）有限公司), a company established in the PRC with
limited liability and an indirect wholly-owned subsidiary of
the Company

“%”

per cent
By order of the Board
China Merchants Land Limited
ZHU Wenkai
Chairman

Hong Kong, 31 August 2026
As at the date of this announcement, the Board comprises Mr. ZHU Wenkai, Mr. YU Zhiliang
and Mr. LI Yao as non-executive Directors; Dr. SO Shu Fai, Mr. WONG King Yuen and
Ms. CHEN Yan as executive Directors and Dr. WONG Wing Kuen, Albert, Ms. CHEN Yanping,
Dr. SHI Xinping and Mr. IP Man Ki Ryan as independent non-executive Directors.
* Unofficial English translation denotes for identification purposes only

–9–

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其
準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容
而產生或因倚賴該等內容而引致的任何損失承擔任何責任。

CHINA MERCHANTS LAND LIMITED
招商局置地有限公司
（於開曼群島註冊成立的有限公司）

（股份代號：978）

關連交易
物業租賃協議
物業租賃協議
於二零二六年八月三十一日，承租人（本公司之間接全資附屬公司）與業主訂立物業租
賃協議，以租賃該等物業。

上市規則之涵義
於本公告日期，業主為招商蛇口之直接全資附屬公司，而招商蛇口為本公司之控股股
東，持有本公司已發行股本總額約74.35%。因此，根據上市規則第14A.13(1)條，業
主為招商蛇口之聯繫人，並因此根據上市規則為本公司之關連人士。
根據香港財務報告準則第16號，本集團將於其綜合財務報表中將物業租賃協議項下之
該等物業租賃確認為使用權資產。因此，就上市規則而言，訂立物業租賃協議將被視
為本公司收購資產，從而構成上市規則第14A章項下本公司之一項一次性關連交易。

–1–

由於本集團根據物業租賃協議將予確認之使用權資產價值之所有適用百分比率中最高
者超過0.1%但低於5%，故根據上市規則第14A.76(2)條，訂立物業租賃協議及其項下
擬進行之交易須遵守申報及公告之規定，惟獲豁免遵守通函（包括獨立財務意見）及獨
立股東批准之規定。

於二零二六年八月三十一日，承租人（本公司之間接全資附屬公司）與業主訂立物業租賃
協議，以租賃該等物業。

物業租賃協議
物業租賃協議之主要條款載列如下：
日期：

二零二六年八月三十一日

訂約方：

(a)

業 主（ 招 商 蛇 口 之 直 接 全 資 附 屬 公 司 及 本 公 司 之 關 連 人
士，作為出租人）；及

(b)

承租人（本公司之間接全資附屬公司，作為承租人）。

年期：

物業租賃協議之租期為六十個月，自二零二六年九月一日起至
二零三一年八月三十一日止。
若業主擬於物業租賃協議屆滿後繼續出租該等物業，承租人享
有優先續租權，前提是承租人須提前三個月向業主發出書面通
知，且承租人於租期內並無發生任何違約。

–2–

該等物業：

該等物業位於中國深圳市南山區太子路5號新時代廣場二期
（ 招 商 蛇 口 廣 場 ）號 樓 3 4 0 1 、 3 4 0 2 A 物 業 ， 總 建 築 面 積 約 為
996.96平方米（包括公攤面積）。該等物業之許可及指定用途為
辦公用途。

租金及支付條款：

承租人於租期內須向業主支付固定租金每月人民幣219,331.2元
（含增值稅）。自二零二六年九月一日起至二零二六年十二月三
十一日止期間之首期租金人民幣877,324.8元，須於物業租賃協
議簽署後10個工作天內支付。隨後之租金按年支付，並須於每
年首個月的10日之前結清。
租金金額乃由業主與承租人經公平磋商後，並參照以下各項釐
定：(i) 該等物業的品質屬性，包括其作為超甲級寫字樓的建築
規格、竣工年份、樓層及海景座向，並考慮同一大樓內低樓層
單位及鄰近可比辦公物業的現行租金水平；及(ii)該等物業的交
付狀況及支付條款，並考慮其精裝修狀況及獲豁免租賃押金。
物業租賃協議項下應付之租金將以本集團之內部資源撥付。

–3–

提前終止條款：

發生下列任何事件時，業主有權提前終止物業租賃協議：
(a)

承租人嚴重違反租賃協議條款或未履行義務；

(b)

承租人收到任何影響物業租賃協議正常履行之訴訟保全裁
定、強制執行令或清盤呈請；

(c)

承租人開出之任何支票因其指定銀行帳戶資金不足而退
票；

(d)

承租人對該等物業造成任何損壞，且於業主要求後拒絕恢
復原狀或修復該等損壞；或

(e)

承租人於租期內有任何違法行為，或未於規定期限內遵從
主管政府機關頒佈之行政整改指令，致使受到法律處罰或
遭受負面媒體曝光，或承租人之該等行為對物業租賃協議
之持續履行構成潛在風險或可能對業主造成其他不利影
響。

物業租賃協議項下之使用權資產
根據香港財務報告準則第16號，本集團根據物業租賃協議將予確認之使用權資產價值預
計為人民幣14,244,200.05元，即根據物業租賃協議將予支付之租賃付款總額之現值。股
東應注意，上述數字未經審核，日後可能有所調整。
據董事經作出一切合理查詢後所知、所得資料及所信，業主取得該等物業所有權之初始
收購成本為人民幣26,814,489.27元。

–4–

訂約方之資料
承租人為一間於中國成立之有限公司，主要從事投資控股。
業主為一間於中國成立之有限公司，主要從事非住宅物業租賃及商業綜合體管理服務。
業主為招商蛇口之直接全資附屬公司，招商蛇口為一間於中國成立之有限公司，其股份
於深圳證券交易所上市（股份代號：001979）。招商蛇口之控股股東為招商局集團，招商
局集團持有招商蛇口已發行股本總額超過58%，且為受國務院國有資產監督管理委員會
監管之國有企業集團。

進行交易之理由及裨益
本集團主要從事物業發展、銷售、租賃、投資及管理以及資產管理。
該等物業將用作承租人於深圳的主要營業地點及辦公物業，以支持其投資管理及營運活
動。董事認為，租賃該等物業在營運上有其必要，可讓承租人於深圳有效履行其業務職
能，且該等物業位於蛇口核心區域的優越地理位置，具備便捷的交通網絡、高樓層座向
朝東海景及精裝修狀況，提供優質的工作環境，從而提升本集團的企業形象。此外，業
主為該等物業及更廣泛的新時代廣場二期（招商蛇口廣場）商業綜合體的業主及營運商，
具備專業知識及能力為該等物業提供優質的物業管理及租賃服務；且支付條款對本集團
有利，據此毋須支付租賃押金，進一步減少本集團的初始資金支出及現金流負擔。
董事（包括全體獨立非執行董事）已確認，物業租賃協議之條款及其項下擬進行之交易屬
公平合理，乃按正常商業條款或較佳條款經公平磋商後於本集團日常及一般業務過程中
訂立，且符合本公司及其股東之整體利益。

–5–

由於(i)非執行董事朱文凱先生及余志良先生各自於招商蛇口擔任高級管理職務；及(ii)非
執行董事李堯先生，以及執行董事黃競源先生及陳燕女士各自於招商蛇口之聯繫人任
職，為避免任何實際或潛在利益衝突，彼等各自已於相關董事會會議上就批准物業租賃
協議及其項下擬進行的交易之相關決議案放棄投票。

上市規則之涵義
於本公告日期，業主為招商蛇口之直接全資附屬公司，而招商蛇口為本公司之控股股
東，持有本公司已發行股本總額約74.35%。因此，根據上市規則第14A.13(1)條，業主為
招商蛇口之聯繫人，並因此根據上市規則為本公司之關連人士。
根據香港財務報告準則第16號，本集團將於其綜合財務報表中將物業租賃協議項下之該
等物業租賃確認為使用權資產。因此，就上市規則而言，訂立物業租賃協議將被視為本
公司收購資產，從而構成上市規則第14A章項下本公司之一項一次性關連交易。
由於本集團根據物業租賃協議將予確認之使用權資產價值之所有適用百分比率中最高者
超過0.1%但低於5%，故根據上市規則第14A.76(2)條，訂立物業租賃協議及其項下擬進
行之交易須遵守申報及公告之規定，惟獲豁免遵守通函（包括獨立財務意見）及獨立股東
批准之規定。

–6–

釋義
於本公告內，除文義另有所指外，下列詞彙具有以下涵義：
「聯繫人」

指

具有上市規則賦予該詞之涵義

「董事會」

指

本公司董事會

「招商局集團」

指

招商局集團有限公司，由國務院國有資產監督管理
委員會監管並直接管理之中國企業，並為招商蛇口
的直接控股股東，持有招商蛇口已發行股本總額超
過58%

「招商蛇口」

指

招商局蛇口工業區控股股份有限公司，一間於中國
成立之有限公司，其股份於深圳證券交易所上市
（股份代號：001979（A股）），為本公司之間接控股
股東，於本公告日期間接持有本公司已發行股本總
額約74.35%

「本公司」

指

招商局置地有限公司，於開曼群島註冊成立之有限
公司，其股份於聯交所主板上市（股份代號：978）

「關連人士」

指

具有上市規則賦予該詞之涵義

「董事」

指

本公司董事

「本集團」

指

本公司及其附屬公司

–7–

「香港財務報告準則
第16號」

指

香港財務報告準則第16號「租賃」，包括香港會計師
公會頒佈之準則及詮釋

「業主」

指

深圳市蛇口新泰置業有限公司，一間於中國成立之
有限公司，為招商蛇口之直接全資附屬公司

「上市規則」

指

香港聯合交易所有限公司證券上市規則（經不時修
訂）

「中國」

指

中華人民共和國（就本公告而言，不包括香港、澳門
特別行政區及台灣）

「該等物業」

指

中國深圳市南山區太子路5號新時代廣場二期（招商
蛇口廣場）號樓3401、3402A物業

「物業租賃協議」

指

承租人與業主就租賃該等物業訂立日期為二零二六
年八月三十一日之物業租賃協議

「人民幣」

指

人民幣，中國法定貨幣

「股份」

指

本公司已發行股本中每股面值0.01港元之普通股

「股東」

指

本公司股東

「平方米」

指

平方米

「聯交所」

指

香港聯合交易所有限公司

「附屬公司」

指

具有上市規則賦予該詞之涵義

–8–

「承租人」

指

招商局置地（深圳）有限公司，於中國成立之有限公
司，為本公司之間接全資附屬公司

「%」

指

百分比
承董事會命
招商局置地有限公司

主席
朱文凱
香港，二零二六年八月三十一日

於本公告日期，董事會由非執行董事朱文凱先生、余志良先生及李堯先生；執行董事蘇
樹輝博士、黃競源先生及陳燕女士；以及獨立非執行董事王永權博士、陳燕萍女士、史
新平博士及葉文祺先生組成。

–9–