Glonghui (600503.SH) announced on December 5, Huali Family () announced that the wholly-owned subsidiary Shanghai Huazhi Lishang Real Estate Co., Ltd. and Shanghai Shengzhen Real Estate Co., Ltd. (a wholly-owned subsidiary of Poly Real Estate Group Co., Ltd., the participating subject, “Shanghai Shengzhen Real Estate”) jointly competed for state-owned construction land use rights in the 01D4-04 plot in Pingliang Community, Yangpu District, Shanghai. The equity ratio was 51%, Shanghai Shengzhen Real Estate, and 49%, Shanghai Shengzhen Real Estate.
According to the “Transaction Confirmation” issued by the Shanghai Land Exchange Service Center on December 5, 2023, it was confirmed that Shanghai Huazhi Lishang and Shanghai Shengzhen Real Estate jointly competed for the right to use a local block of state-owned construction land. The total transaction price of the local plot of land was RMB 418.85 million. Among them, the equity ratio is 51% for Shanghai Huazhi Lishang and 49% for Shanghai Shengzhen Real Estate.