SUNDY SERVICE (09608) announced that on November 19, 2025 (after trading hours), Hangzhou Hehong (an indirect wholly-owned subsidiary of the company) entered into a letter of intent with Greenland Holdings to purchase the property for approximately RMB6.65 million. The property is located at Unit 1702, 17th Floor, Tower 2 (West Tower), Hangzhou Century Center, Yingfeng Street, Xiaoshan District, Hangzhou, Zhejiang Province, China, with a gross floor area of approximately 228.83 square meters.
The acquisition presents an excellent opportunity for capital preservation and investment. The company believes the asset holds unique advantages due to its prime location in Hangzhou’s landmark building and comprehensive supporting facilities, offering strong potential for value retention and appreciation. The property benefits from high market demand for both purchase and leasing, with high occupancy rates and relatively strong liquidity.
The prestige of the landmark building enhances the property’s reputation, creating a virtuous cycle that sustains favorable rental levels and high occupancy rates. For large listed companies, the asset’s superior location provides strategic advantages for industry exchanges and collaboration. In particular, the anticipated tenant profile is expected to deliver predictable and reliable rental returns, generating a stable income stream.
Additionally, the current downturn in the real estate market offers a favorable opportunity to acquire the property at a lower price. Given its solid fundamentals supporting appreciation expectations, purchasing the asset below peak market prices could yield substantial capital gains.
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