On May 21, Gelonghui | Suxin Services (02152.HK) issued an announcement regarding the proposed acquisition of land use rights submitted for sale by the Suzhou Municipal Bureau of Natural Resources and Planning through public tenders (that is, land acquisition). As of the date of this announcement, the public tender process was completed. The Group was the winning bidder for the land, and the final bid price was RMB 49.57 million. On May 21, 2024, the Suzhou Municipal Bureau of Natural Resources and Planning signed the agreement with the company. According to this, the company agreed to acquire and the Suzhou Municipal Bureau of Natural Resources and Planning agreed to sell the land use rights.

According to the disclosure, the land is located north of Shishan Road, Shishan Business Innovation Zone, Suzhou High-tech Zone, west of the planned site. The site area is 6,124.1 square meters. The land is designated for commercial use, the concession period is 40 years, and the total floor area ratio is 1.4 to 1.8.