Tianjin TEDA (SHE:000652) expects to recover 7.7 million yuan from the Shen County government in China for the return of a plot of state-owned land, according to a Shenzhen Stock Exchange filing on Saturday.
The conglomerate had purchased the 28,323-square-meter plot in Nanguan 2 Village, Chaocheng Town, Shenxian County, Liaocheng City, Shandong Province in 2023. The land was intended for a project that was ultimately abandoned.
While Tianjin TEDA will receive 7.7 million yuan for the land itself, taxes and fees paid during the initial stages of the land acquisition will not be refunded.
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