Zhejiang China Commodities City wins land bid for major Yiwu development

Zhejiang China Commodities City Group (SSE:600415) successfully bid 3.223 billion yuan for state-owned construction land use rights in Yiwu City's Futian Street. This project will transform the area south of the Fifth District Market into a comprehensive cultural, commercial, and tourism complex. The group plans a total land area of approximately 164,700 square meters, with a total construction area of about 660,000 square meters. The project is anticipated to take 3-4 years to complete.

The total estimated investment is 7.863 billion yuan, covering land costs, construction, and financial expenses, financed by the company's capital and bank loans. The project aims to enhance Yiwu’s international trade and tourism landscape, with a projected investment payback period of 7.83 years (after tax) and an investment yield of 6.41% (after tax).

In a related announcement, Yang Yang, the company's deputy general manager, resigned from his position on November 7, 2025, due to organizational work arrangements. His resignation took effect immediately upon submission. Yang Yang holds 200,000 shares of the company and will comply with relevant shareholding regulations.