Zhejiang Longsheng (600352): Progress Of Huaxing New Town Project
Zhejiang Longsheng (600352) announced on July 15 that according to the authorization of the company's first extraordinary general meeting in 2021, the company and Shanghai Jing'an District government confirmed the cost of land acquisition for public facilities of Huaxing new city project. On June 29, 2021, Shanghai Shengnuo Real Estate Co., Ltd. received 50% of the land acquisition cost for public facilities paid by the government of Jing'an District of Shanghai, i.e., 3760919300 yuan [see the announcement on the progress of Huaxing new city project (Announcement No.: 2021-035) disclosed on July 1, 2021], On July 13, 2021, Shanghai Shengnuo Real Estate Co., Ltd. received the remaining amount of 3760.9193 million yuan from the government of Jing'an District, Shanghai. So far, Shanghai Shengnuo Real Estate Co., Ltd. has received the full amount of land acquisition cost for public facilities.
The above payment items received by Shanghai Shengnuo Real Estate Co., Ltd. shall be recorded into other accounts payable, and shall be paid by Shanghai Shengnuo Real Estate Co., Ltd. of 7984.18 million yuan for the land transferred by Huaxing new town agreement, unit 08, unit C070102, Tianmu community, Jing'an District [see the announcement on the progress of Huaxing new city project "(Announcement No.: 2021-035) on July 1, 2021), The difference of 462.3414 million yuan between the above-mentioned land acquisition cost of public facilities and the total amount of 7521.8386 million yuan is included in the development cost of inventory. It is estimated that up to now, the land cost of Huaxing new town project of Shanghai Shengnuo Real Estate Co., Ltd. is 16.618 billion yuan, which is within the scope of authorization of the first extraordinary general meeting of shareholders in 2021.
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