CONCH MAT TECH Subsidiary Secures Land Use Rights in Maoming High-Tech Zone for RMB45.2 Million

Stock News05-15

CONCH MAT TECH (02560) announced that on May 15, 2026, its wholly-owned subsidiary, Maoming Conch, successfully acquired the land use rights for a plot in Maoming City, China, through a public listing process organized by the Maoming Natural Resources Bureau, with a winning bid of RMB45.2 million. The land parcel is situated in the western district of the Maoming High-Tech Industrial Development Zone, comprising three individual plots with a total area of 78,667 square meters. Designated for industrial use, the land use rights are granted for a term of 50 years. This land acquisition is intended for the planning and construction of Maoming Conch's production facilities. It will support the company in optimizing its national industrial layout, expanding production capacity, and gaining proximity to downstream markets in South China. This move is expected to effectively shorten transportation distances, reduce logistics and operational costs, enhance regional market responsiveness and market share, and further strengthen the company's overall operational capabilities and sustainable development potential. The acquisition aligns with the company's long-term strategic development plan and serves the collective interests of all shareholders.

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