CFMOTO subsidiary lands land use rights for expansion

Zhejiang Cfmoto Power (SSE:603129) announced that its wholly-owned subsidiary, Zhejiang Jihe Intelligent Equipment, successfully bid for two land parcels in Tongxiang City through a public auction. The parcels, identified as Tongxiang Chongfu Town 2025-22-1 and 2025-22-2, cover 64,228.33 square meters and 205,771.21 square meters respectively, and are intended for third-class industrial use. The land use rights were acquired for CNY 17.35 million and CNY 55.56 million respectively, with a 50-year term. The company intends to develop the land for the expansion of motorcycle and electric vehicle production, aiming to enhance production capacity, optimize product structure, and strengthen market competitiveness.