Wenling Measuring & Cutting Tools (01379) spent 52.06 million yuan to acquire land in Wenling City to build the Shanhai Tianjiao construction project

According to Zhitong Finance App, Wenling Measuring & Cutting Tools (01379) announced that on June 10, 2025, Wenling Xuri (a direct wholly-owned subsidiary of the company) and the Natural Resources Bureau signed a transaction confirmation to confirm that Wenling Xuri successfully bid for the land use rights in the plot located in Qianyangxia Village, Wenjiao Town, Wenling City, Zhejiang Province, China. As a result of the successful bid, Wenling Xuri and the Natural Resources Bureau signed a state-owned construction land use concession contract on June 10, 2025. According to this, the Natural Resources Bureau agreed to the sale, and Wenling Xuri agreed to buy the land use rights for this plot. The total cost was RMB 52.06 million.

According to reports, the plot is located in Qianyangxia Village, Wenqiao Town, Wenling City, Zhejiang Province, China. The total site area is about 19,271 square meters.

The group currently plans to develop and construct the plot as a construction project in Shanhai Tianjiao in Wenling City to match the Group's development strategy. Subject to final approval from relevant government departments, it is anticipated that the plot will be developed into two commercial office buildings with 11 and 14 floors, respectively, and a 4-storey commercial building. The estimated construction cost of developing the site is RMB 265 million, which does not form part of the total cost of the acquisition, and is expected to be disbursed by the Group's internal resources and/or financing. The acquisition will further consolidate and enhance the Group's market position in the overall tool market, expand its industrial park management services and expand its property leasing business capabilities, and actively promote the Group's future sustainable development.