Suxin Services to Auction Industrial Property in Suzhou with Base Price of 231 Million Yuan

Stock News
Apr 29

Suxin Services (02152) announced that its wholly-owned subsidiary, Jinshi, plans to sell a property through a public tender process at the Suzhou Trading Center. According to the center’s regulations, the winning bidder must enter into an asset transfer agreement with Jinshi. The base price for the sale is approximately 231 million yuan. The property is located at No. 365 Heshan Road in Suzhou and was acquired through a grant of land use rights designated for industrial purposes, valid until December 30, 2056. The site covers an area of 54,811.6 square meters, with a total gross floor area of 78,058.72 square meters. The property has clear and unencumbered ownership, free from mortgages, charges, or liabilities. It comprises 11 buildings, including ten dormitory blocks, each with a floor area of 7,114.14 square meters, providing a total of 1,598 rooms. Buildings 1, 2, 3, 4, 5, 6, 8, and 10 are standard six-story dormitories, while Buildings 7 and 9 are six-story apartment buildings. Additionally, there is a separate supporting facility building with a floor area of 6,917.32 square meters. Proceeds from the proposed sale will generate cash inflows, enabling the group to optimize resource allocation, focus on core business operations, support strategic initiatives, and enhance overall operational efficiency.

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