Core Viewpoint - The company, Fan Yuan International, has announced the acquisition of a property in Hangzhou, China, for a total consideration of RMB 52.33 million, aiming to reduce future rental expenses by securing its own office space [1] Group 1: Acquisition Details - The buyer, Hangzhou Fan Yuan International Logistics Co., Ltd., is an indirect wholly-owned subsidiary of the company [1] - Six pre-sale agreements have been signed with the seller, Hangzhou Xingyi Real Estate Co., Ltd., for the purchase of the property [1] - The property, named Xinming Yueming Building No. 2, is currently under construction and will serve commercial and office purposes [1] Group 2: Property Specifications - The building consists of 6 floors, including 5 above ground and 1 underground [1] - The property has obtained a pre-sale permit from the Hangzhou Housing Security and Real Estate Administration Bureau as of March 2025 [1] - The pre-sale agreements include specific units and parking spaces within the building [1] Group 3: Strategic Rationale - The company views the current low prices in the Chinese real estate market as a favorable opportunity for acquiring its own property [1] - The acquisition is expected to effectively reduce the company's monthly rental expenses and cash outflows in the long term [1]
泛远国际(02516)附属与杭州星怡置业分别订立六份预售合约