According to the Beijing Municipal Commission of Planning and Natural Resources, the Yizhuang Development Zone of Beijing sold an industrial site yesterday (25th) for a starting price of about RMB 0.842 billion (the same below). The land is located on the east side of the Xiaomi automobile factory, and the winning bidder is Xiaomi Jingxi Technology Co., Ltd., a subsidiary of Xiaomi-W (01810.HK).

According to the listing document, the Yizhuang New City industrial land is planned to be used for the construction of new energy intelligent networked automobile whole vehicle and parts manufacturing projects, with a fixed asset investment of not less than 2.6 billion yuan, and the annual production value is not less than 16 billion yuan.