小商品城：子公司5.69亿元竞得土地使用权

Core Viewpoint - The company has successfully acquired a piece of state-owned land in Hangzhou for commercial use, indicating a strategic investment in real estate development [1] Group 1: Acquisition Details - The company's wholly-owned subsidiary, Shangbo Nanxing, won the bidding for the land use rights of the JG1203-28 plot in Hangzhou for 569 million yuan [1] - The land is located in the Shangcheng District, covering an area of 13,921 square meters, with a planned construction area of 48,723.5 square meters [1] - The land use is designated for commercial and business purposes, with a lease term of 40 years [1] Group 2: Financial and Project Information - The total estimated investment for the project is 1.099 billion yuan, funded by the company's own capital and some bank loans [1] - The construction period for the project is projected to be 2 to 3 years [1]