Binjiang Real Estate secures land use rights

Hangzhou Binjiang Real Estate Group Co., Ltd. (SZSE:002244) announced today that it has successfully secured the land use rights for a plot located in Hangzhou, identified as 杭政储出[2025]38号. The land, designated for residential use, has a site area of 64,021 square meters and a plot ratio of 1.1. The total cost of the land acquisition is CNY 135,959万元, with Binjiang Real Estate holding 100% equity in the project at this time. The company noted that the equity stake in the project may be subject to change. The announcement was made by the company's board of directors on April 23, 2025.