According to the Zhitong Finance App, Yuexiu Real Estate (00123) announced that on December 30, 2024, it successfully competed for the F1-09 plot of Unit W040602 in Changning District of Shanghai (plot in Changning District, Shanghai) through a consortium of RMB 2.1825 billion through a public listing.

Hangzhou Yile Industrial Investment Co., Ltd. (Hangzhou Yile), a subsidiary of which the company actually owns 95.00% of the shares, and Shanghai Hongrun Real Estate Co., Ltd. formed a consortium (consortium) based on their respective independent interests and discussed in accordance with general commercial terms. The consortium successfully competed for a plot of land in Changning District of Shanghai with RMB 2.1825 billion through public listing. Hangzhou Yile will establish a project company with partners to develop a plot in Changning District of Shanghai. The actual benefit of the company in the Changning District of Shanghai is 66.5%. According to what the directors know, know and believe after making all reasonable inquiries, the partner is an independent third party.

The total land area of the Changning District of Shanghai is about 11,210 square meters, and the total planned construction area is about 39,305 square meters, of which the calculated floor area is about 24,662 square meters. The nature of the land plot in Changning District of Shanghai is proposed to be three types of residential land. The project company plans to sell a residential property built on a plot in Changning District, Shanghai.

According to planning restrictions, the Changning District plot in Shanghai contains 5% guaranteed housing; 1,200 square meters of community-level public service facilities; simultaneously designing and implementing the F1-01 planned public green area on the north side of the plot, with an area of about 1,585 square meters; at the same time, it is also necessary to simultaneously design and implement the public space between the outer boundary of the existing sidewalk on Beihong Road on Tianshan Road and the F1-01 planned public green space. The total area of the two parts is about 1,721 square meters. The green space construction standard is not less than RMB 1,000 per square meter. After completion, ownership is handed over free of charge to the local government or the government for a paid repurchase.

The Changning District plot in Shanghai is located in the Changning Hongqiao section, within the Central Ring Road. The section mainly has residential functions. It is close to the Central Ring Road and Beihang Corridors, and has easy access to the entire city. The western side is the Xijiao section, the north is bordered by the Suzhou River and the Changfeng section, and the east is connected to the Zhongshan Park section. The surrounding area is fully equipped, close to the subway, 200 meters walk from Beixinjing Station of Line 2; the section includes Weining Primary School in Changning District of Shanghai, Shanghai Changning Experimental Primary School, Shanghai Yan'an Middle School, Tianshan School affiliated to East China Normal University, etc.; 600 meters from Tongren Hospital (3B); only 900 meters from various large shopping malls in the area; there are Banmasu River Park, Changfeng Park and Shanghai Zoo within 3 km.

The board of directors believes that the company's acquisition of land in Changning District of Shanghai at a reasonable cost will increase the company's high-quality land reserves and further consolidate the company's strategic position in Shanghai.