Core Insights - Greentown South China Investment Development Co., Ltd. successfully acquired the A319-1225 land parcel in Bao'an District for a total price of 1.215 billion yuan, with a premium rate of 11.47% and a floor price of approximately 20,363 yuan per square meter [1] - The land parcel has a total area of 19,246.94 square meters and is designated for residential use, with a planned construction area of 59,665 square meters, including residential, commercial, and community facilities [2] - The acquisition is part of Greentown's broader strategy to expand its presence in the Shenzhen real estate market, where it has been actively participating in land auctions throughout the year [4][5] Land Acquisition Details - The A319-1225 land parcel is located approximately 300 meters from the Sha Jin Station on Line 11, making it a strategically advantageous location [2] - The land sale conditions include an innovative model of "land transfer upon certificate issuance" and "housing transfer upon certificate issuance," allowing for greater flexibility in development [2] - The surrounding area has no competing new housing projects, providing Greentown with ample opportunity to design and plan high-quality residential offerings [3] Market Trends - The land market in Shenzhen is characterized by "individual case heat and overall calm," with premium developers focusing on core cities and prime locations [3] - Greentown has been a prominent player in the land acquisition market, achieving record prices in various cities, including Wuhan and Suzhou, indicating a strong demand for high-quality residential developments [4][6] - The current market dynamics suggest a trend towards fewer but more prominent projects, with Greentown aiming to capitalize on this by creating "star projects" that can command premium pricing [7] Company Profile - Greentown China Holdings Limited, established in 1995, is a leading developer of high-quality real estate and integrated living services in China, with total assets exceeding 500 billion yuan and a brand value of 118.8 billion yuan [8] - As of June 30, 2025, Greentown reported a total contracted sales area of approximately 5.35 million square meters and a total sales amount of about 122.2 billion yuan, reflecting a year-on-year decrease of 3.4% [8]

Core Viewpoint - The report highlights ongoing labor disputes at the Guiyu Lanting project in Guangming District, primarily due to inadequate project management by the contractor, Shenzhen Xintianze Fire Engineering Co., Ltd [1] Company Summary - Shenzhen Xintianze Fire Engineering Co., Ltd was established in 1995 and is located in Shenzhen, Guangdong Province, primarily engaged in the construction and installation industry [1] - The company has a registered capital of 32 million RMB [1] Project Summary - Guiyu Lanting is the first project by Greentown Real Estate in Shenzhen, located in the Cuihu community of Guangming District, offering various types of housing including commercial and talent housing [1] - The project opened for sale in March 2023, with the first phase scheduled for delivery in July 2025 and the second phase expected to be delivered in October 2025 [1]

Group 1 - A prime residential land parcel in Yiwu was successfully auctioned by Greentown with a total transaction price of 585.33 million yuan, reflecting a floor price of 16,145 yuan per square meter and a premium of 6.4% [1][2] - The land is strategically located near the Xiuhu Station of the Jin Yi East Urban Rail Transit and is less than 500 meters from Xiuhu Park, indicating its potential attractiveness for residential development [1] - This transaction is seen as a significant indicator of the land market trends in Yiwu for the first half of the year [1] Group 2 - Greentown has been actively expanding its presence in Yiwu, having developed several notable projects over the past decade, including the Rose Garden project in 2013, which became a representative residential property in the area [3][4] - Recent projects like Fengqi Chaoming and Fengqi Yilou have further solidified Yiwu as a core strategic area for Greentown, showcasing the city's high market value and purchasing power [5] - The economic growth in Yiwu, with a GDP of 126.13 billion yuan and a year-on-year increase of 7.7%, has contributed to a resilient real estate market, outperforming other cities of similar size [7] Group 3 - The newly auctioned land will support the development of modern residential products, including features like sky gardens and public shared platforms, enhancing the overall living experience [8] - As the current inventory in the central district is expected to be cleared by the end of the year, this new land parcel will fill the supply gap in the residential market [8]