Core Points - The company has successfully acquired the land use rights for a plot in Tianjin Binhai New Area, which aligns with its real estate development strategy [1][4] - The total area of the acquired land is 12,468.65 square meters, with a maximum building area of 19,949.84 square meters designated for residential use [2] - The total price for the land use rights is RMB 189.70 million, which is included in the company's investment plan for 2025 [3] Summary by Sections Land Acquisition - The company’s subsidiary, Shanghai Construction Real Estate Co., Ltd., won the bidding for the land use rights of the designated plot in Tianjin Binhai New Area [1] Planning Indicators - The land area is specified as 12,468.65 square meters, with a building area limit of 19,949.84 square meters, intended for residential purposes [2] Financial Details - The total transaction price for the land use rights is RMB 189.70 million, and this investment is part of the company's 2025 annual investment plan [3] Impact on Company - Acquiring this land use right is in line with the company's real estate business development strategy and is expected to enhance its sustainable development capabilities [4]