GUMING invested 455 million RMB to acquire commercial land in Hangzhou, expected to be used for the construction of a new headquarters

According to domestic media reports, GUMING (01364.HK) has acquired a commercial land parcel in the core area of Hangzhou Qianjiang Century City for a base price of RMB 455 million. The land area is approximately 12,400 square meters, with a buildable area of about 75,000 square meters, and the building height limit is not to exceed 190 meters; it is reported that GUMING will use it to construct its headquarters.

The report indicates that in May 2022, GUMING acquired a commercial land parcel in Daxi Town, Wenling City, Zhejiang, for the construction of the Wenling GUMING headquarters building. Currently, GUMING is implementing a dual headquarters strategy in Hangzhou and Taizhou. The Taizhou headquarters is located in Daxi Town, Wenling City, while the Hangzhou headquarters is situated in Xiaoshan District. If the newly acquired land parcel is successfully developed, the Hangzhou headquarters is expected to return to the Qianjiang Century City area