Yuexiu Property Company Limited announced that in August 2023, the Company acquired an effective equity interest of approximately 27.77% in relation to a land parcel in Guangzhou by way of land auction. The land parcel is located at the Milk Plant Plate in the Tianhe Intelligence Valley Area of Tianhe District, Guangzhou and the GFA of the land parcel is approximately 220,590 sq.m. It is planned for development of residential land use. The amount of land premium attributable to the effective equity interest of the Company was approximately RMB 1,898 million.