SHENGLONG INTL(08481) subsidiary successfully bid for the Binhai Unit site in Lin'an District, intended for the construction of a hotel and sports venues.

Shenglong Intl (08481) announced that on April 20, 2026, its indirect wholly-owned subsidiary Hangzhou Shenglong Tourism Development Co., Ltd. (the Buyer) successfully won a bid for the entertainment and commercial land use rights with a total area of approximately 23,278 square meters in Unit LA020501-34 of Binhu District, Lin'an District, China, which was listed for auction by the Lin'an Sub-bureau of Hangzhou City Planning and Natural Resources Bureau (Lin'an Sub-bureau). On April 24, 2026, the Buyer and Lin'an Sub-bureau of Hangzhou City Planning and Natural Resources Bureau signed a transaction confirmation letter for the land acquisition at a price of RMB 55.92 million. The Buyer signed a land use right contract with Lin'an Sub-bureau of Hangzhou City Planning and Natural Resources Bureau on May 6, 2026. The company acquired the land use rights for an entertainment and commercial land with a total area of approximately 23,278 square meters located in Unit LA020501-34 of Binhu District, Lin'an District, China (east to Jinxiu Park, south to Nantiao Creek Green Belt, west to Changqiao Road, north to Tiaoxi North Street) for the construction of a hotel and sports venues. Hangzhou's leisure tourism industry has undergone rapid transformation from traditional "sightseeing tourism" to becoming a destination for "leisure vacation." As a famous tourism city in China, Hangzhou is dedicated to building an "important international tourism and leisure center." The total volume of tourism in Hangzhou is increasing year by year, and the contribution of the tourism industry to GDP is gradually increasing. Particularly, Lin'an Tourism Industry Zone is developing towards rural cultural tourism and in-depth experience, creating a "city garden" and wellness resort relying on landscape resources. Lin'an has a unique ecological environment and is positioned as a summer health center in the region, attracting customers from other regions and cities in China. The value-added of the tourism industry is growing rapidly, and the cultural tourism industry plays an important role in the overall economic development of the region. Therefore, building a hotel in Lin'an District will meet the growing demand for accommodation for tourists. Furthermore, to give back to the community and benefit the residents of Lin'an District, the company will also build a large-scale sports venue. The sports venue will have various sports facilities to meet the recreational needs of the residents in the area. In summary, the group will create a leisure and holiday center in the area that combines accommodation and sports facilities. Therefore, the group believes that investing in this leisure and holiday center can bring benefits to shareholders and aims to optimize opportunities and diversify investment risks.