Guangming Real Estate: Wholly-owned subsidiary land has been confiscated.

Guangming Real Estate announcement, its wholly-owned subsidiary Shanghai ShenHong Refrigeration and Storage Co., Ltd. will sign the "State-owned Land Acquisition Compensation Agreement" with Shanghai Baoshan District Land Reserve Center, to acquire and reserve state-owned land and buildings located at No. 301 Hegang Road and No. 101 Anda Road. The total land area to be acquired this time is 34,681 square meters, with a certified building area of 31,165 square meters and an uncertified building area of 1,203.55 square meters, with a compensation amount of 230 million yuan.