Changan Automobile to Transfer Property for 2.56 Billion Yuan

MT Newswires Live12-18

Chongqing Changan Automobile (SHE:000625, SHE:200625) agreed to transfer its property in Yubei District, Chongqing City, China to the city's local government for 2.56 billion yuan, according to a Shenzhen Stock Exchange filing on Thursday.

The property included land, buildings, and related ancillary assets. The building area is about 239,800 square meters and the land use right area is about 212,300 square meters.

The automobile company will have to handover and vacate the property before Sept. 30, 2027, the filing said.

The company's A shares rose more than 1% in recent trade.

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.

Comments

We need your insight to fill this gap
Leave a comment