The Board of Directors (the “Board”) of Yangzijiang Shipbuilding (Holdings) Ltd (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that today the Group has entered into a framework agreement with the local government of Jingjiang City, Jiangsu Province, in the PRC for the acquisition of land use right of approximately 1300 Chinese mu (equivalent to approximately 866,671 square meters) of land (the “Land”) in the Xinqiao Park of the Jingjiang Economic and Technological Development Zone for the establishment of a new clean energy ship manufacturing base (the “Project”).
The Land features approximately 1320 meters of Yangtze River shoreline, offering a unique <truncated>