Wansheng Expects 2025 Net Profit to Fall by 21 Million Yuan Over Land Acquisition Termination

MT Newswires Live01-05

Zhejiang Wansheng (SHA:603010) expects its 2025 net profit to be reduced by 20.6 million yuan after returning a land its subsidiary acquired, according to a Shanghai bourse filing on Monday

The subsidiary, Zhejiang Shensheng New Materials, agreed to return the land it bought in the Taizhou Bay Economic Development Zone in China due to macroeconomic conditions.

After the termination agreement of the land transfer takes effect, the stainless steel products manufacturer will recover part of the land transfer payment of about 75.2 million yuan and prior landfill payments of 9.3 million yuan within 180 days.

The company's shares rose less than 2% during the midday trade.

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