LING YUE SER GP (02165.HK): to bid for Guangyuan land at RMB217.6m

NewTimeSpace News: On 6 November 2026, Ling Yue Services Group Limited (02165.HK) (formerly Ling Yue Group Limited) disclosed that it will submit a bid for the land use rights of a land parcel sold by the Guangyuan Natural Resources Bureau through public tender, and will pay a tender deposit of RMB43.522 million as required after publication of the announcement. The tender announcement was published on 23 September and 10 October, and as at the date of this announcement the company has not entered into any arrangement or contract with the Guangyuan Natural Resources Bureau.

The reserve price of the land is RMB217.61 million (excluding tax), and the company will publish a separate announcement on its bid price in due course. The land is located in Lizhou District, Guangyuan City, Sichuan Province, with a total site area of 32,969.92 square metres, designated for urban residential and commercial use with land grant terms of 70 years and 40 years respectively and a comprehensive plot ratio of between 1.0 and 2.0. The consideration will be funded by the group's internal resources.

The company currently operates property management services in Guangyuan with an established customer base. The directors consider the land to be a scarce parcel in Guangyuan's land supply with convenient transport and complete supporting facilities; if successful, the company plans to develop it for commercial and residential use and sell the properties. Based on the reserve price, the acquisition will constitute at least a major transaction (with applicable percentage ratios above 25% but below 100%), subject to the reporting, announcement, circular and shareholder approval requirements under Chapter 14 of the Listing Rules; the company intends to obtain written shareholder approval under Rule 14.44 in lieu of a general meeting, and will not continue the bidding if any applicable percentage ratio reaches 100% or above.