Binjiang Real Estate acquires land use rights

Hangzhou Binjiang Real Estate Group (SZSE:002244) announced the acquisition of land use rights for two plots in Hangzhou, as of March 25, 2025. The plots, designated as 杭政储出[2025]16号 and 杭政储出[2025]18号, are earmarked for residential development. The first plot has a planned construction area of 24,272 square meters and was acquired for 253.812 million yuan, while the second covers 23,145 square meters at a cost of 520.34 million yuan. Binjiang Real Estate holds 100% equity in both land parcels. The company advises that equity stakes in these projects are subject to change and the disclosed figures are for investor reference only.