YUEXIU PROPERTY (00123) successfully won the bidding for the Kangqiao plot in Gongshu District, Hangzhou City, with a subsidiary of 1.33 billion yuan.

Yuexiu Property (00123) announced that on September 16, 2025, through its subsidiary Hangzhou Yuelong Real Estate Development Co., Ltd. (a subsidiary company with 95% ownership, Hangzhou Yuelong), successfully won the bid for the land parcel GS120103-09 in Kangqiao, Gongshu District, Hangzhou, through open bidding, with a total amount of RMB 1.33 billion. The Kangqiao land parcel in Gongshu District, Hangzhou, covers an area of approximately 34,165 square meters, with a total potential construction area of around 98,001 square meters, of which the permissible construction area is about 64,914 square meters. The land parcel in Kangqiao, Gongshu District, Hangzhou, is planned for residential purposes. The residential properties built on the land parcel in Kangqiao, Gongshu District, Hangzhou, are intended for sale. According to the planning restrictions, the Kangqiao land parcel in Gongshu District, Hangzhou, must include a built-up area of at least 400 square meters for an early childhood education center, at least 400 square meters for a community children's growth center, and at least 350 square meters for a community canteen, which will be handed over to the designated government department at no cost upon completion. The Kangqiao land parcel in Gongshu District, Hangzhou, is located in the central part of the Canal New City, adjacent to the northern part of Yuhang New City, approximately 750 meters from the Beijing-Hangzhou Grand Canal, 4.5 kilometers from Gongshu District Government, and 14.1 kilometers from the municipal government. The Canal New City block is positioned as a northern urban sub-center that integrates residential living, commercial office space, trade and logistics, tourism and leisure, cultural creativity, and headquarters economy. In terms of surrounding amenities, the land parcel is approximately 550 meters away from Ping'anqiao Station on Metro Lines 4 and 15 (under construction), and about 600 meters south of Hangzhou Yuhang Yucai Big City North School. Within a 3-kilometer radius, there are various high-quality facilities such as the Second Affiliated Hospital of Zhejiang University School of Medicine, commercial centers, and medical centers. The Board of Directors believes that the acquisition of the Kangqiao land parcel in Gongshu District, Hangzhou, at a reasonable cost will increase the company's high-quality land reserves and further strengthen the company's strategic position in Hangzhou.