HK Stock Market Move | Greentown China (03900) rose nearly 4% in the morning with a reported investment of over 1.4 billion yuan at a premium of 16.58% to win the residential land in Hangzhou's Xiaoshan District.

GREENTOWN CHINA (03900) rose nearly 4% in the morning. As of the time of writing, it has increased by 3.73% to 6.39 Hong Kong dollars, with a turnover of 43.039 million Hong Kong dollars. On the news front, according to "Viewpoint Net", on September 20th, the urban area of Hangzhou today auctioned three residential land parcels including those in Xihu Yungu, Xiaoshan Shibeidanyuan, and Yuhang Liangzhu. The total construction area of the three land parcels is 347,000 square meters, with a total starting price of 4.29 billion yuan. Among them, Xiaoshan urban residential land was won by GREENTOWN CHINA's Hangzhou Zhefan Real Estate (Greentown) for a total price of 1.406 billion yuan, a premium of 16.58% over the base price of 1.206 billion yuan, with a floor price of 29,145 yuan per square meter. The land area for auction is 26,808 square meters, with a plot ratio of 1.8 and a construction area of 48,254.4 square meters. Guotai Junan pointed out earlier that the company has been actively acquiring land in Hangzhou, its main operating base since 2024, and in July it won two land parcels with high premium rates. According to data from CREIS and CIRI, the company added land reserve value of 10.3 billion yuan in July, including two new land reserves in Hangzhou.