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中国恒天立信国际(00641.HK)订立土地收回协议并获退还地价款4025.7万人民币

China Hengtian Lixin International (00641.HK) signed a land resumption agreement and received a refund of the land premium of 40.257 million RMB.

財華社 ·  Jan 10, 2022 00:20

[Caihua News] China Hengtian Lixin International (00641.HK) announced that on January 10, 2022, Zhejiang Hengtian Lixin, an indirect wholly-owned subsidiary of the company, entered into a land resumption agreement with Shaoxing Keqiao Management Committee. In accordance with the Land resumption Agreement, Zhejiang Hengtian Lixin agreed to return the land use rights of its 76680 square meters of industrial land located in the coastal industrial zone of Keqiao Economic and technological Development Zone, Shaoxing, China, to the Shaoxing Keqiao Management Committee, the land premium will be refunded of RMB 40.257 million (equivalent to approximately HK $49 million).

On January 30, 2019, Zhejiang Hengtian Lixin purchased the related land, the original intention is to build a R & D, design, manufacturing and marketing base to provide customers with intelligent equipment system for dyeing and finishing. Due to the macroeconomic situation, market changes and the persistence of the COVID-19 epidemic, the Group did not carry out the land construction project before the deadline of 20 March 2020 in accordance with the terms of the agreement to purchase the relevant land, and the relevant land is still idle. In view of this, the Group has not yet obtained a land use certificate for the relevant land, nor can it freely transfer the relevant land in the open market. After fair negotiation, Zhejiang Hengtian Lixin and Shaoxing Keqiao Management Committee entered into a land resumption agreement on January 10, 2022 for the resumption of the relevant land. The proposed transactions under the Land resumption Agreement will not adversely affect the normal operation of the Group. The proceeds from Zhejiang Hengtian Lixin can supplement the cash flow and will be used for the daily working capital of the Group.

In addition, in December 2020, the Group has basically completed the relocation of its production base from Shenzhen to Zhongshan, with a new plant area of about 500000 square meters. The Group plans to carry out the R & D, design and manufacture of intelligent dyeing and finishing equipment system in the new Zhongshan plant, which can give full play to the production capacity of the group's Zhongshan plant.

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