Tianjin Jinbin Development's subsidiary Tianjin Taihong Jointly won a residential land bid.

Tianjin Jinbin Development (000897.SZ) announced that its wholly-owned subsidiary, Tianjin Taihong Real Estate Development Co., Ltd., acquired the project of Jinghe Mountain (Hang) 2025-05 land through joint bidding on February 26, 2025. The land is located at the intersection of Shandong Road and Hami Road in Heping District, with boundaries to the east of Shenyang Road, south of Rehe Road, west of Hami Road, and north of Shandong Road. The planned land use is classified as second-class urban residential land, with a state-owned land use right transfer period of 70 years. The planned land area is 4007.4 square meters, with a plot ratio of 1.0 < and 1.7. The land was sold for a total price of 296 million yuan through the joint bidding. The partner in this joint bidding is Tianjin Jincheng Construction and Development Co., Ltd. In the future, Taihong Company will develop the land in cooperation with the partner by jointly establishing a project subsidiary company controlled by Taihong Company.