JNBY Design plans land acquisition for new park

JNBY Design Limited (HKEX:3306) announced its intention to bid for land use rights in Xihu district, Hangzhou, People's Republic of China, to construct a new modern park. The proposed park will integrate digital research and development, as well as intelligent warehousing and operation facilities. The land parcel, identified as plot number XH120405-20, covers an area of 203,308 square meters and will be used for industrial purposes for 50 years. The starting bid price for the land use right is approximately RMB281.2 million. The bidding process will occur on the Zhejiang Natural Resources Intelligent Trading Services Platform and is expected to conclude around June 30, 2025. JNBY Design anticipates that this development will provide expansion space and support future business growth for the Group.