Core Insights - The land parcel in Shishan Town, Nanhai District, was successfully auctioned for approximately 381 million yuan, acquired by Baoli South China, a wholly-owned subsidiary of Poly South China [1][2] Group 1: Land Auction Details - The starting price for the Shishan Town land was 317.6 million yuan, with a final transaction price reflecting a premium rate of about 20%, equating to a floor price of 5,232 yuan per square meter [1][2] - The land covers an area of approximately 31,700 square meters and is designated for mixed-use, including residential, retail, dining, hotel, and park areas, with a total development investment requirement of no less than 255 million yuan, excluding the land price [1][2] Group 2: Company Strategy and Market Position - Baoli South China has made three land acquisitions in Foshan this year, with the Shishan Town parcel being adjacent to a previously acquired site, indicating a strategic focus on the Binhai Lake area [1][3] - The company aims to maintain its "land acquisition immediately followed by construction" approach, emphasizing rapid development and project delivery [1][3] Group 3: Market Trends and Performance - In the first nine months of 2025, Baoli South China ranked first in Foshan's real estate sales with a total sales amount of 8.434 billion yuan in equity and 10.776 billion yuan in flow [4] - The overall real estate market in Foshan is experiencing a decline, with the top 30 real estate companies seeing a 15% year-on-year decrease in sales performance [4] - Despite the market downturn, there has been a notable increase in monthly sales performance in September, with a 36% month-on-month growth for the top 30 companies [4][5]