Shanghai Zendai Property (00755.HK) has noted the recent decrease in price and increase in the trading volume of its shares but is not aware of any reason for such movements.

The company said that certain press articles reported that the company would like to dispose of its 35% interest in a parcel of land located in the Bund of Huangpu District, Shanghai. However, the board has clarified that the company has continuously been assessing its investment in the aforesaid project in order to seek for the best return for its shareholders. The company has been approached by various independent third parties and there were preliminary discussions relating to the above. However, no agreement or any arrangement has been made by the company.