On September 2, 2024, Yuexiu Property announced that it has signed a land acquisition agreement with Guangzhou Land Development Center, Guangzhou Xinxiu, and Guangzhou City Construction to transfer the land use rights of the second plot of land on the north side of Jinan University to the Land Development Center for a transaction price of RMB 5.003 billion. This transaction is considered a major transaction and must comply with the regulations of Chapter 14 of the Listing Rules, including declaration, announcement, communication, and shareholder approval. However, as Yuexiu Holdings, which is closely related to the Group, already holds approximately 63.29% of the company's shares and has given written approval, the company will not convene a shareholders' meeting to review this matter. The company plans...Show More

On September 2, 2024, Yuexiu Property announced that it has signed a land acquisition agreement with Guangzhou Land Development Center, Guangzhou Xinxiu, and Guangzhou City Construction to transfer the land use rights of the second plot of land on the north side of Jinan University to the Land Development Center for a transaction price of RMB 5.003 billion. This transaction is considered a major transaction and must comply with the regulations of Chapter 14 of the Listing Rules, including declaration, announcement, communication, and shareholder approval. However, as Yuexiu Holdings, which is closely related to the Group, already holds approximately 63.29% of the company's shares and has given written approval, the company will not convene a shareholders' meeting to review this matter. The company plans to use the full amount of the land acquisition proceeds to acquire land in Panyu district in the future. In addition, the company expects to record an estimated pre-tax net loss of approximately RMB 1.7438 million due to the land acquisition. The communication will be sent to shareholders by September 24, 2024, or earlier, but the company may apply for a delay in sending.