Jiangnan Fabrics (03306.HK) subsidiary plans to acquire the land use rights of a plot in Hangzhou City.

Zhixin Finance App news, Jiangnan Bu Yi (03306.HK) announced that on July 11, 2025, the company's indirectly wholly-owned subsidiary Hui Pu Fashion, through public bidding, successfully won the bid for the land use rights of the land located in Xihu District, Hangzhou, China (plot number XH120405-20) at a price of RMB 281 million. According to the bid confirmation notice from the Hangzhou City Planning and Natural Resources Bureau, Hui Pu Fashion signed a land use right transfer contract with the Hangzhou City Planning and Natural Resources Bureau on July 11, 2025 regarding the acquisition.