On June 27, 2024, Yotrio Group (002489.SZ) announced that in order to smoothly promote the above investment construction project and meet the company's needs for operating venues, it held the 20th meeting of the sixth board of directors and passed the "Proposal on Discussing the Company's Participation in Bidding for Land Use Rights", agreeing to use its own funds of up to 80 million yuan to participate in the bidding for land use rights again, and authorizing the company's management to handle all matters related to the bidding for land use rights.
The land use rights to be bid for this time will continue to be used for the Yotrio Group high-end home furnishing industrial park project, which is conducive to improving the company's independent production capacity, further expanding the production scale and market share of the company's products, ensuring the company's long-term stable development, reasonably arranging the distribution of various product production capacities, reducing scattered renting of production venues, and preparing for the large-scale production of new product categories in the future, which is conducive to improving the company's core competitiveness and profitability, and in line with the company's development strategy.