Longway's wholly-owned subsidiary won the land use rights in Ningbo for 63.98 million yuan

According to the announcement from Zhitong Finance APP, Longway (301202.SZ) announced that on November 26, 2024, the fourth meeting of the fourth board of directors and the third meeting of the fourth supervisory board were held, where the proposal on "Signing the with the Ningbo Qianwan New Area Management Committee by the wholly-owned subsidiary" was reviewed and approved. The company's wholly-owned subsidiary, Ningbo Longway Network Energy Co., Ltd. (referred to as "Longway Network Energy"), signed the with the Ningbo Qianwan New Area Management Committee (referred to as "Qianwan New Area Management Committee") to invest in the construction of a data center prefabricated module project (referred to as "this project"), with a total investment of 1.5 billion yuan.

Recently, Longway Network Energy successfully bid for the land use rights of the site numbered "Northern Industrial Zone 01-20b" at a starting price of 63.98 million yuan, and signed the "Standard Land Investment Construction Agreement for Enterprise Investment Industrial Projects in Ningbo Qianwan New Area" with the Qianwan New Area Management Committee, as well as the "Online Transaction Confirmation" and "State-owned Construction Land Use Rights Transfer Contract" with the Cixi Natural Resources and Planning Bureau. The purpose of this land use rights bidding by the company's wholly-owned subsidiary is to meet the future business development needs for production and operation sites, further integrate resources, optimize the industrial chain, improve supply chain efficiency, and reduce costs