Binjiang Real Estate secures land use rights

Hangzhou Binjiang Real Estate Group announced today that it has won the land use rights for a designated plot. The land plot, identified as 杭政储出[2025]30号, is intended for residential development and has a planned construction area of 26,148 square meters and a plot ratio of 2.5. The total land price is CNY171,814,000, with Binjiang Real Estate holding 100% equity in the project currently. The company notes that the equity stake in the project may change, and the current ratio is for investors' reference only. The announcement was made by the company's board of directors on April 2, 2025.