Binjiang Group acquires Huzhou land, discloses chairman's spouse transaction

Hangzhou Binjiang Real Estate Group announced on December 26, 2025, its successful bid for land use rights in Huzhou, Zhejiang Province, on December 25, 2025. The acquired plot, "Huxinqu 2025-29," measures 44,426 square meters, designated for residential and commercial use with a plot ratio of 1.8, at a total land price of 53,400,000 yuan. The company holds a 100% equity stake in this project, noting that this percentage may change and is provided as a provisional reference for investors.

Separately, the company disclosed a related party transaction where Ms. Yu Lily, spouse of chairman Qi Jinxing, purchased a commercial high-rise unit in the "Lan'ao Wangzuo" project, developed by its subsidiary Hangzhou Bin'ao Real Estate Development Co., Ltd. The transaction, totaling 26,006,168 yuan, was approved by the board on December 24, 2025, with chairman Qi Jinxing abstaining.

Independent directors approved the transaction, finding it to be a normal sales activity at fair market value, not detrimental to the company or its shareholders. This transaction, along with the land acquisition, reflects the group's ongoing operational activities in the real estate market.