On July 19th, Gelunhui announced that Hunan Huasheng (600156.SH) held its 9th Board of Directors' 8th meeting on July 19th, 2024, and approved the proposal on control subsidiary land acquisition and storage. It agreed to receive 4 pieces of state-owned construction land use rights located on Wangyue Road, Yueyang District, and acquire assets such as buildings on the land from its subsidiary, Hunan Huasheng Dongting Hemp Industry Co., Ltd., with a compensation range of 0.34-0.38 billion yuan (tax-inclusive, subject to the value evaluation report determined by the relevant government agency).
The counterparty for this acquisition is Yueyang City Land Reserve Center, a government institution responsible for land reserve work in the city and specific areas. There is no relation between the company and the counterparty in terms of property rights, business, assets, debts, personnel, or any other relation that may or has caused the company to tilt its benefits towards them.
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