On July 18th, Growatt Intelligence (688209.SH) announced that its wholly-owned subsidiary, Zhuhai Growatt Intelligence, recently participated in the online auction of state-owned land use rights released by the Zhuhai Public Resource Trading Center according to the bidding process. It won the state-owned construction land use right located on the south of New Sha San Road and east of Tianxing Sixth Road in the North Weiping area of Zhuhai High-tech Zone for RMB 22.655621 million and signed the Transaction Confirmation Letter with the Zhuhai Public Resource Trading Center. On July 18, 2024, Zhuhai Growatt Intelligence signed the State-owned Construction Land Use Right Transfer Contract (Contract No.: 4404TJ-2024-000001) with the Zhuhai Natural Resources Bureau.
The land acquired this time is the construction land for the new project of the "Growatt Intelligence R&D and Operation Headquarters". The funds for purchasing the land use right this time are from the company's own funds or self-raised funds. The acquisition of land this time provides strong support for the implementation of the project, which will help to improve the company's R&D capabilities, further consolidate and expand the company's market space and market position, and help to enhance the company's profitability and core competitiveness in line with the company's long-term development plan.