GUANGNAN (HOLD) subsidiary invests RMB 56.16 million to acquire a plot of land in Foshan City

GUANGNAN (HOLD) (01203.HK) announced that its indirectly non-wholly-owned subsidiary, Yuehai Lishui Food, has successfully obtained the land use rights for a plot located in Lishui Town, Foshan City, Guangdong Province, at a cost of RMB 56.16 million. Accordingly, the Foshan Public Resources Trading Center and Yuehai Lishui Food have signed a transaction confirmation letter for the successful bid.

The aforementioned plot is located in Shitang "Dayangdi" in Lishui Town, Nanhai District, Foshan City (Plot Number: YDCR44060500804604). The total area of the plot is approximately 34,035.21 square meters, with a plot ratio not lower than 1 and not higher than 3, designated for industrial use. The land use rights for industrial purposes are valid for 50 years, with the first 15 years from the date of the "Land Use Rights Transfer Contract" designated for livestock slaughtering, meat product production, and by-product processing