On August 7th, Gelonhui reported that in order to promote the rectification and upgrading of industrial land in the Duanzhou urban area, the Duanzhou Land Reserve Center (hereinafter referred to as the "Duanzhou Reserve Center") intends to pay for the state-owned land use of industrial land with a planned area of 20525.8 square meters and a total building area of 10407.32 square meters located on the east side of Duanzhou Road and the south side of Lantang Road in the planned 111 area of Duanzhou District, Zhaoqing City. After friendly negotiation, the Duanzhou Reserve Center and Guang Dong Hua Feng New Energy Technology intend to sign a "Land Reclamation Agreement" on the matter of paid acquisition and storage. The total compensation for this acquisition is expected to be RMB 49.8636 million, and the specific compensation amount is subject to the final "Land Reclamation Agreement" signed by both parties.
Purpose and effect of this land collection: (1) To promote the consolidation of industrial land in Duanzhou urban area and revitalize the company's existing assets and optimize the asset structure, the company decided to include the plot in the Duanzhou area land reserve according to the relevant regulations of Duanzhou District People's Government of Zhaoqing City. (2) This land collection will not have any adverse effects on the company's normal production and operation, and there will be no damage to the interests of the company and shareholders. (3) This land collection is a transaction that the company actively cooperates with the overall urban planning requirements of Duanzhou District People's Government of Zhaoqing City, and the company will perform corresponding accounting treatment for the compensation for this collection in accordance with relevant regulations such as "Enterprise Accounting Standards". The specific impact amount depends on the contract performance, and the final accounting treatment and impact amount will be based on the annual audit results of the auditing agency. (4) The company will fulfill its information disclosure obligations in a timely manner according to the follow-up progress, and investors are requested to make cautious decisions and pay attention to investment risks.
