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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.