LING YUE SER GP (02165) intends to acquire land in Sichuan through public tender

LING YUE SER GP (02165) announces that the Company will submit a tender on October 28, 2026 for the proposed acquisition of the land use rights of the land sold by the Xichang Municipal Natural Resources Bureau through public tender. Pursuant to the requirements set out in the public tender announcement, the successful bidder shall, within the relevant period specified in the public tender announcement, sign a confirmation of transaction and a land use rights grant contract with the Xichang Municipal Natural Resources Bureau in respect of the proposed land acquisition. The starting bid price for the public tender of the proposed land acquisition is RMB69.88 million (excluding taxes). The Company will, at an appropriate time and in accordance with Chapter 14 of the Listing Rules, publish a separate announcement in respect of the Company's bid price. Following the publication of this announcement, the Company will pay a tender deposit of RMB14 million as required by the public tender announcement. The land is located in a prime area of Xichang City, Sichuan Province, China, with convenient transportation and well-developed supporting facilities, and is a scarce plot among the current land supply in Xichang City. If the Company successfully wins the bid in the relevant public tender, it intends to develop the land for commercial purposes and sell the properties on the market. The Company currently operates a property management services business in Xichang and has accumulated a solid customer base in the city, which provides a certain degree of customer resource support for property development. The Xichang real estate market remains generally stable, and given that the plot is situated in an ideal location in Xichang, the quality commercial products offered are expected to attract the Company's existing property management customers to purchase properties again, while also bringing in new customers. The project development is expected to bring potential investment returns and create higher financial returns for the Company and its shareholders.