Tongyi Low Carbon subsidiary secures land use rights

Tongyi Low Carbon Technology (SSE:600506) announced that its wholly-owned subsidiary, Tongyi New Energy Technology (Zhejiang), has successfully acquired the real estate certificate for land parcel Keqiao Ma'an 2024-05. The acquisition, completed on February 8, 2025, involved a winning bid of CNY 4,415,670.00. Located south of Yuejiang Road and east of Kehai Highway, the 60,684.00 square meter site is earmarked for industrial use, specifically for the construction of a new energy liquid-cooled oil and special lubricant production and research center. The land use rights are valid from March 26, 2025, to March 25, 2075. This strategic move is expected to bolster Tongyi Low Carbon's position in the new energy industry, enhance its R&D capabilities, and improve its overall profitability.