LING YUE SER GP (02165.HK): bidding for Xichang residential land via public tender, reserve price RMB69.88 million

NewTimeSpace News: LING YUE SER GP (02165.HK) announced that on 28 October 2026 it will submit a tender for the proposed acquisition of the land use right of the land offered for sale by the Xichang Municipal Natural Resources Bureau by way of public tender. Under the requirements set out in the public tender announcement, the winning bidder must, within the relevant period stipulated therein, sign a transaction confirmation letter and a land use right grant contract with the Xichang Municipal Natural Resources Bureau. The public tender announcement was published on the website of the online grant system on 30 September 2026.

According to the announcement, the land is located to the north of Xichang No. 3 Primary School in Xichang City, Sichuan Province, China, with plot number HD-01-24 and a total site area of 9,474.32 square metres. It is designated for ordinary commodity housing use (Class II) with a grant term of 70 years, and the composite plot ratio must be greater than 1.0 and not more than 1.6. The reserve price of the public tender is RMB69.88 million (excluding taxes), and intending bidders must pay a deposit of RMB14 million to the Xichang Municipal Natural Resources Bureau; if successful, the deposit will be applied towards settlement of the final bid price, otherwise it will be refunded to unsuccessful bidders without interest.

The Company said the land is situated in a prime location in Xichang with convenient transport links and well-developed supporting facilities, and is a scarce plot among the current land supply in the city; the Company currently operates property management services in Xichang and has built up a solid customer base there, which provides some customer resources for property development. If the bid succeeds, the Company intends to develop the land for commercial purposes and sell the properties on the market, with the consideration to be funded by the Group's internal resources. Based on the reserve price, one or more applicable percentage ratios will exceed 5% but all will be below 25%, and the proposed land acquisition would at least constitute a discloseable transaction of the Company.