Core Viewpoint - Yuexiu Property (00123) successfully acquired the underground space of the Shanghai Jing'an District land for RMB 7.737 billion through a consortium, enhancing its land reserves and strategic position in Shanghai [1][3]. Group 1: Acquisition Details - The consortium, in which the company's subsidiary Shanghai Yueheng holds a 95% stake, won the bid for the Jing'an District land through a public listing [1]. - The total area of the Jing'an District land is approximately 26,108 square meters, with a total buildable area of about 153,943 square meters, including residential, commercial, and cultural facilities [2]. Group 2: Land Use and Development Plans - The land is designated for residential and cultural use, with residential buildable area of approximately 65,213 square meters and commercial area of about 5,200 square meters [2]. - The project company will develop residential properties for sale, while commercial and cultural facilities will be transferred to the government after approval [2]. Group 3: Location and Strategic Importance - The Jing'an District land is located within the inner ring of Jing'an, benefiting from the Suzhou River waterfront and proximity to major commercial and transportation hubs [3]. - The area is positioned as a world-class waterfront new economy headquarters cluster, focusing on finance, technology, professional services, and cultural industries [3]. - The board believes that acquiring the land at a reasonable cost will enhance the company's quality land reserves and strengthen its strategic position in Shanghai [3].