Century Sunshine (509) reported a recent development regarding the administrative appeal filed by its subsidiary, Shandong Hongri, in connection with the “Relocation to Parks from City Project.” The Shandong Provincial High People’s Court affirmed the legality and validity of the relocation agreement with Luozhuang District Government, while highlighting soil remediation as a prerequisite for completing the process.

All industrial lands of Shandong Hongri were designated for land use rights conversion under the arrangement with the Luozhuang District Government. Shandong Hongri completed machinery relocation, factory demolition, land leveling, and employee resettlement according to schedule. However, the government’s subsequent obligations, including further land acquisition and zoning requirements, were not fulfilled, impeding progress.

The latest ruling requires Shandong Hongri to request specific processes, execution standards, and implementation measures for soil remediation from the Luozhuang District Government. Shandong Hongri retains the right to re-file or appeal under relevant laws should further collaboration fail to yield results. The company stated that other business segments remain unaffected.

Trading in Century Sunshine (509) shares was suspended starting 1 April 2025, pending fulfillment of the required resumption guidance and full compliance with the Listing Rules. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.