On the first day of the fifth batch of land auctions in Shanghai, Poly Development successfully bid for a plot of land in Minhang District with a premium of approximately 12.95%.

On June 19th, the fifth batch of land auctions in Shanghai this year held on-site trading activities. In the morning, in the bidding for the MHC10601 Unit 01-22A-10 plot in Minhang District, after 40 rounds of bidding, Poly Developments successfully acquired the land with a bid of 31.4026 billion yuan, at a premium rate of approximately 12.95%.