Xinhecheng: Intends to participate in bidding for land use rights.

Xinhecheng announced on the evening of May 19th that, in order to adapt to the continuous expansion of the company's business scale, the company plans to use its newly established wholly-owned subsidiary Zhejiang Xinhecheng Holdings Co., Ltd. as the bidding main body to participate in the bidding for the land use rights of Unit JG1402-76 in Sibao and Qibao in Shangcheng District, Hangzhou. The bidding price shall not exceed 1.15 billion yuan.