Shanxi Huayang New Material (SHA:600281) agreed to withdraw transferring land use rights for the Kaihua Village plot to Taiyuan Chemical Industry Group, according to a Shanghai bourse filing on Thursday.
The termination came after changes were made to Taiyuan Chemical's territorial spatial planning.
The plot, which has a land area of 1,517.47 square meters, was supposed to be transferred for a total of 5.4 million yuan, the Chinese chemical company stated.
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