YUEXIU PROPERTY (00123) successfully won the land in Jing'an District, Shanghai through a consortium for 7.737 billion yuan.

YUEXIU PROPERTY (00123) announces that on October 20, 2025, through a consortium, it successfully won the underground space land parcels of unit 32-04 and unit 32-08 in Shanghai Jing'an District with a total of RMB 7.737 billion by way of public bidding. A subsidiary company, Shanghai Yueheng Enterprise Management Co., Ltd. (Shanghai Yueheng), in which the company actually holds 95% equity, together with Pinghu Zhaolu Real Estate Co., Ltd., Nantong Ruihong Real Estate Co., Ltd., Suzhou Xingshengrong Enterprise Management Co., Ltd., and Suzhou Xingtaiyi Real Estate Co., Ltd., formed a consortium based on their respective independent interests and negotiated terms under common business practices, successfully winning the land parcels in Shanghai Jing'an District with a bid of RMB 7.737 billion through public bidding. Shanghai Yueheng will jointly establish a project company with the partners to develop the land parcels in Shanghai Jing'an District, in which Shanghai Yueheng will have a 20% stake. The directors have conducted all reasonable inquiries and believe that the partners are independent third parties of the company. The land parcels in Shanghai Jing'an District cover an area of about 26,108 square meters, with a total buildable area of about 153,943 square meters, including a residential buildable area of approximately 95,033 square meters; a public service facility buildable area of about 500 square meters; a commercial supporting facility buildable area of about 5,200 square meters; and a cultural facility buildable area of about 24,120 square meters. There is also a public green area of about 4,000 square meters. The land parcels in Shanghai Jing'an District are intended for residential and cultural purposes. The project company plans to sell the residential properties built on the land parcels in Shanghai Jing'an District, while the commercial supporting facilities and cultural facilities are intended to be transferred after approval by the Jing'an District government. According to the planning restrictions, the public service facilities and public green areas within the land parcels in Shanghai Jing'an District are not for sale and must be constructed by the winning bidder and transferred to the relevant departments free of charge. Located within the inner ring of Jing'an District, the land parcels in Shanghai Jing'an District enjoy first-line river views of the Suzhou River. The Suzhou River area is positioned as a world-class waterfront new economic headquarters concentration area, mainly developing industries such as finance, technology, professional services, and cultural creation. The surrounding facilities are well-equipped, with three rail transit lines encircling the area, and the Tian Tong Road station of the metro lines 10 and 12, as well as the Qu Fu Road station of the metro lines 8 and 12 being within 500 meters walking distance. In terms of commerce, it is close to the Nanjing Road pedestrian street business district and the People's Square business district. In terms of educational resources, it is 300 meters from the Shanghai No. 1 Central Primary School and 3 kilometers from the Suzhou Bay Experimental Middle School. In terms of medical facilities, the Shanghai Jiaotong University School of Medicine Affiliated Ruijin Hospital (West Campus), Shanghai Tenth People's Hospital, Shanghai First People's Hospital, and Shanghai Changhai Hospital are all within a 2-kilometer radius. In terms of landscape, there is an unobstructed view of the Suzhou River 200 meters to the south of the land parcel, and it is 1.5 kilometers away from the Bund and the Huangpu River. The Board of Directors believes that the company's acquisition of the land parcels in Shanghai Jing'an District at a reasonable cost will increase the company's high-quality land reserves and further consolidate the company's strategic position in Shanghai.