Guangju Energy: Wholly-owned subsidiary Nanshan Petroleum successfully bid for two state-owned construction land use rights for 165 million RMB and is planning to invest in the construction of gas stations.

Guangju Energy announced that its wholly-owned subsidiary, Nanshan Petroleum, participated in the auction organized by the Longgang Management Bureau of the Shenzhen Planning and Natural Resources Bureau, conducted by Shenzhen Trading Group Co., Ltd. (Shenzhen Public Resource Trading Center), for two parcels of state-owned construction land use rights. Nanshan Petroleum successfully bid a total of 165 million yuan for the two parcels and signed a "Transaction Confirmation Letter" with the Land and Mining Rights Business Department of Shenzhen Trading Group Co., Ltd. Nanshan Petroleum has already paid a bid security deposit of 5.36 million yuan. The project involves the construction of 2 gas stations with a newly built prescribed floor area of 1080 square meters each, including a canopy area of 900 square meters and a station building and ancillary facilities of 180 square meters. The project is funded by self-owned funds and self-raised funds, with construction and operating costs not exceeding 16 million yuan.