Securities code: 600620 Securities abbreviation: Tianchen Shares Announcement Number: Lin 2026-003
Shanghai Tianchen Co., Ltd.’s progress announcement on the land compensation agreement (2)
The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.
1. Transaction Overview
1. According to the approval of Shanghai Development and Reform City (2023) No. 42 and other documents, the Shanghai Pudong International Airport Phase 4 expansion flight area project (hereinafter referred to as the "project") has officially started construction. Part of the agricultural land of Shanghai Tianchen Co., Ltd. (hereinafter referred to as the "Company") located in Hill 3/1, Block 3, Chaoyang Farm, Pudong New District, Shanghai, has been included in the land red line of this project. Due to public interest needs, the government has taken back the state-owned land use rights of part of the company's agricultural land for the construction of the Shanghai Airport (Group) Co., Ltd. (hereinafter referred to as "Shanghai Airport Group") flight area project. Shanghai Airport Group is the project construction unit and the user of the project land. Shanghai Pudong House Expropriation Service Office Co., Ltd. (hereinafter referred to as "Pudong House Expropriation Office") is the implementation unit of the project land compensation work.
Based on the above situation, the company ("Party B") plans to sign the "Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 2) Project Land Compensation Agreement" ("Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 3) Project Land Compensation Agreement") ("Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 3) Project Land Compensation Agreement") with Shanghai Airport Group ("Party A") and Pudong Housing Expropriation Office ("Party C"). The Phase 2 Agreement and the Phase 3 Agreement are collectively referred to as the "Land Compensation Agreement". In the second-stage agreement, the company will be expropriated with a land area of 35,942.80 square meters, a compensation unit price of 473 yuan/square meter (including value-added tax), and a land compensation amount of RMB 17,000,944.40; In the three-phase agreement, the company will be expropriated with a land area of 74,587.90 square meters, a compensation unit price of 473 yuan/square meter (including value-added tax), and a land compensation amount of RMB 35,280,076.70. The land compensation agreement that the company plans to sign this time covers a total expropriated land area of 110,530.70 square meters. The compensation unit price is 473 yuan/square meter (including value-added tax). The total land compensation price is RMB 52,281,021.10 yuan.
The company has held the 15th meeting of the 11th board of directors on September 26, 2025 and the company's first extraordinary shareholders' meeting of 2025 on October 15, 2025, which reviewed and approved the "Proposal on the Company's Plan to Sign a Land Compensation Agreement" and authorized relevant personnel of the company to sign all agreements related to this matter (see company announcement numbers: Pro 2025-026, Pro 2025-028, Pro 2025-033).
2. The Company ("Party B") subsequently formally signed the "Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 2) Project Land Compensation Agreement" ("Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 3) Project Land Compensation Agreement") and the Shanghai Airport Group ("Party A") and the Pudong Housing Expropriation Office ("Party C") (the "Three Phase Agreement"). The Phase 2 Agreement and the Phase 3 Agreement are collectively referred to as the "Land Compensation Agreement".
According to the land compensation agreement, as of December 25, 2025, the company has received 20% of the land compensation amount agreed in the "two-phase agreement" paid by Party A to the company, that is, the first installment of RMB 3,400,188.88; and 20% of the land compensation amount agreed in the "three-phase agreement" paid by Party A to the company, that is, the first installment of RMB 7,056,015.34. A total of RMB 10,456,204.22 has been received from the first phase of the land compensation agreement, accounting for 20% of the total land compensation price (for details, please see the company announcement number: Lin 2025-038).
2. Progress
1. According to the land compensation agreement, as of February 12, 2026, the company has received 70% of the land compensation amount stipulated in the "two-phase agreement" paid by Party A to the company, that is, the second installment of RMB 11,900,661.08; and 70% of the land compensation amount stipulated in the "three-phase agreement" paid by Party A to the company, that is, the second installment of RMB 24,696,053.69. This time, the company received the second installment of the land compensation agreement totaling RMB 36,596,714.77, accounting for 70% of the total land compensation price.
2. As of the date of this announcement, the company has received a total of RMB 47,052,918.99 in the first and second installments agreed in the land compensation agreement from Party A to the company, accounting for 90% of the total land compensation price.
The company will continue to follow up on the progress of this transaction and fulfill its information disclosure obligations in a timely manner. Investors are kindly requested to pay attention to investment risks.
Announcement is hereby made.
Board of Directors of Shanghai Tianchen Co., Ltd.
February 13, 2026
