SUNDY SERVICE's subsidiary plans to purchase 50 underground parking spaces at Songdu Building in Hangzhou for 10.5867 million yuan
SUNDY SERVICE announced that it plans to purchase 50 underground parking spaces at Songdu Building in Hangzhou for RMB 10.5867 million on October 31, 2025, with the buyer being its wholly-owned subsidiary. The parking spaces will serve as a capital preservation and investment measure, featuring low operating costs and high cash flow advantages, and are expected to bring continuous income to the company. The parking spaces are located in a prime area with strong business demand, ensuring high utilization rates, further optimizing the company's revenue structure and enhancing profitability
According to the announcement from Songdu Service (09608), on October 31, 2025, the buyer (a wholly-owned subsidiary of the company, Hangzhou Songdu Property Management Co., Ltd.) intends to purchase parking spaces from the seller (Hangzhou Songdu Real Estate Group Co., Ltd.) for a price of RMB 10.5867 million. The parking spaces are located at 50 parking spots on the underground second floor of Songdu Building, No. 789 Fuchun Road, Hangzhou, China.
The purchase of parking spaces is primarily a prudent measure for capital preservation and investment. This asset is a high-quality operational asset with core advantages such as low operating costs, high operating income levels, and stable cash flow, which can provide the company with continuous revenue contributions, aligning with the company's investment strategy for quality assets. Due to its location in a core advantageous area, surrounded by multiple financial institutions, high-end hotels, and Grade A office buildings, there is strong demand for business travel and daily parking in the region, providing a solid market foundation for the stable operation of the parking spaces. Additionally, the target parking spaces are located in the underground supporting area of an independent office building, where the demand for parking from daily office staff and visitors remains high, keeping the parking spaces in a state of tension throughout the year, further ensuring the sustained high utilization rate of the target parking spaces. By purchasing the target parking spaces and conducting specialized operations (including but not limited to external leasing), the company can open up a stable additional income source, effectively optimize its revenue structure, enhance overall profitability and risk resistance, and create greater value for shareholders
