MiHoYo may plan to build a research and development headquarters in Xuhui, Shanghai. According to documents released by the Shanghai Municipal Planning and Nature Administration Bureau this week, Shanghai Shijie Technology Co., Ltd. officially acquired the xh215-02A plot of Hongmei Street, Xuhui District for 1.0772 billion yuan. Tianyancha shows that Shanghai Shijie Technology Co., Ltd. is a wholly-owned subsidiary of MiHoYo.
Pay tax of 3.3 billion every year for three consecutive years
The land acquired by MiHoYo is located in the core area of Caohejing Development Zone, about 300 meters away from Caohejing Subway Station of Shanghai Metro Line 9. The land use is scientific research and design land with a term of 50 years.The transferor of the listed transfer of state-owned construction land use rights is Shanghai Xuhui District Planning and Natural Resources Bureau, and the type of industry allowed is the information technology industry.
According to the pre-contract, it is clear that this land will focus on building a comprehensive international innovation community that gathers innovation and entrepreneurship elements, and introduce the headquarters of Yuanshi industry and digital entertainment leading companies., strive to create an "innovation source engine, industrial economic highland, open development hub, humanistic city model, governance practice example", form a development pattern of "bipolar drive, east-west circulation, north-south linkage", and further increase space carriers to implement the "metaverse" industrial positioning.
The transfer document also shows that the above-ground building area of the land is about 98,000 square meters, equivalent to about 11,000 yuan per square meter. As you can see on the map, the land is about 300 meters away from Caohejing Subway Station on Line 9. As a prime location in Caohejing, MiHoYo also needs to meet certain conditions to win the land at this price.
Relevant documents show that the sales revenue of the enterprises in the land must be no less than 1,599.9834 million yuan per year, the total tax revenue must be no less than 3,333.2304 million yuan per year, and the tax output intensity must be no less than 187,214.91 yuan per square meter per year. The above data is the three-year average standard of the group from 2023 to 2025. The tax standard will be reached in 2026 and subsequent years, which will need to be separately negotiated with the district industrial department.
That is to say,If MiHoYo wants to win this land, it needs to ensure that the annual tax paid for three consecutive years from 2023 to 2025 reaches approximately 3.3 billion yuan.
The pre-contract also shows that the main building on the ground is a research and development headquarters building.After acquiring the land, MiHoYo needs to start construction within 12 months after the land is handed over and complete it within 60 months after the land is handed over.
“The construction start time has not yet been determined”
On the 21st, a reporter from "Kechuangban Daily" visited this land on site. This land is the only vacant land in the surrounding area. It has been surrounded by buildings, mostly office buildings. It can be seen at the scene that this land is currently fenced off, with only one guard guarding it. The interior is overgrown with weeds, and there is no sign of construction yet.
A staff member of the guard office told the reporter of "Kechuangban Daily" that he has taken over this place as a guard since March this year. There is no news yet as to when construction will start here.
With the popularity of the game "Genshin Impact", in the past few years, while MiHoYo's revenue and profits have grown rapidly, its team size has also expanded rapidly. Official data shows that MiHoYo’s total number of employees has reached 5,000.
According to the reporter's understanding, in Shanghai, the MiHoYo headquarters located in Maple Forest Science and Technology Park no longer has enough space, and the company's project teams are now scattered across multiple buildings in the Caohejing Development Zone.
MiHoYo itself originated from Xuhui, so it is not surprising that the new R&D headquarters will be located here. Walking straight east along Yishan Road for about three kilometers from the new land is the current headquarters of MiHoYo.
Judging from the Xuhui District where MiHoYo’s new headquarters is located, the area has also been supporting the development of the gaming industry. Caohejing, the first batch of Yuanverse characteristic industrial parks to be built in Shanghai, the "Yuanchuang Future" Yuanxiang Industrial Innovation Park is located here, and the Yuanxiang Industrial Fund has also been established there.
According to data released by the Shanghai State-owned Assets Supervision and Administration Commission, the Caohejing Development Zone along Yishan Road currently gathers about 60% of Shanghai's game companies and industry output value. It has initially formed the core belt of Shanghai's digital entertainment industry along Metro Line 9, and has gathered about 150 leading game companies.
According to a reporter from the "Kechuangban Daily", many major game businesses and game companies are gathered here, including Tencent, NetEase, ByteDance, Kuaishou, Lilith, Eagle Horn, Diezhi, Youzu.com, etc.
From a team of 3 people to a globally renowned enterprise with 5,000 people, MiHoYo has clearly entered a new stage of development. According to the latest public data, MiHoYo's main business revenue in 2022 was 27.340 billion yuan and net profit was 16.145 billion yuan. By the end of 2022, its net assets had reached 37.402 billion yuan.
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