On August 30, 2024, the buyer (an indirectly wholly-owned subsidiary of the company) successfully bid for the state-owned construction land use right of the seller through auction. On September 5, 2024, the group received a confirmation letter confirming that the buyer successfully bid for the land use right of the land parcel on August 30, 2024, with a bid price of RMB 29.52 million. The confirmation letter was signed and dated by the buyer, the Jiangmen Public Resource Trading Center, and the Xinhui Sub-center of the Jiangmen Public Resource Trading Center on September 3, 2024.
According to the listing and transfer document, the land parcel is located in the east of Yin Zhou Lake Waterway, on the north side of the Guangdong Jiangmen Xinhui area Gujing Town, the land area is 0.0458 million square meters. The land parcel is designated for industrial use and has a term of 50 years. The buyer is expected to enter into a state-owned construction land use right transfer contract with the seller within six business days after signing the confirmation letter.
