LING YUE SER GP (02165) wins bid for residential land in Xichang City for RMB98 million

LING YUE SER GP (02165) announces that on October 29, 2026 (after trading hours), the company entered into a confirmation of transaction with the Xichang Municipal Natural Resources Bureau regarding the terms of the successful bid for the land and the land acquisition, at a consideration of RMB98 million. The company has paid a deposit of RMB14 million to the Xichang Municipal Natural Resources Bureau in accordance with its public tender requirements, and such deposit will be applied toward settlement of the land acquisition consideration. The land is located north of Xichang No. 3 Primary School in Xichang City, Sichuan Province, China, with a site area of 9,474.32 square meters. The land is designated for ordinary commercial housing use (Class II), with a grant term of 70 years. The comprehensive floor area ratio for the land must be greater than 1.0 and less than or equal to 1.6. The company intends to develop the land for residential purposes and sell the properties on the market. The company currently operates a property management services business in Xichang and has an existing customer base in the city, which provides certain customer resources for property development. The Xichang real estate market remains broadly stable, and given that the plot is situated in a prime location in Xichang, the high-quality commercial products offered are expected to attract the company's existing property management customers to purchase property again, while also attracting new customers.