Core Viewpoint - The company, Joy City Property (00207.HK), successfully acquired land use rights in Chengdu for RMB 2.65 billion, indicating a strategic investment in a high-potential area [1] Group 1: Acquisition Details - The acquisition was made by Chengdu Chenyue, a wholly-owned subsidiary of the company, through a public online bidding process [1] - The confirmation of the transaction was received on November 19, 2025, with the land use rights transfer contract expected to be signed by December 3, 2025 [1] - Chengdu Chenyue has paid a bidding deposit of RMB 532 million for the acquisition [1] Group 2: Project Location and Market Potential - The project is located in Chengdu, a key hub in Western China known for its strong economic vitality and significant market potential [1] - The site is situated in the Qingyang District, which has a solid industrial base and growing consumer demand, presenting substantial opportunities for commercial investment due to insufficient effective commercial supply [1] - The project will benefit from the thriving aviation industry cluster and a vibrant "residential + commercial" environment [1] Group 3: Expected Outcomes - The company anticipates that the development of the acquired land will generate positive investment value, leading to cash flow and stable, satisfactory returns and profits for the group [1] - The board believes that the acquisition aligns with the company's business development strategy and planning [1]