---
title: "Headman plans to sign a compensation agreement for the recovery of state-owned land use rights, expecting to receive compensation of 8.12 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/222523088.md"
description: "Headman plans to sign a compensation agreement for the recovery of state-owned land use rights, expecting to receive a compensation amount of 8.12 million yuan. Due to the reconstruction of Zhongzhong Road in Yuhuan City, the company's land has been expropriated, but it does not affect production and operations. The company has already established production bases in other regions, and the compensation amount in the agreement exceeds the net value of fixed assets and intangible assets, which will be handled according to accounting standards"
datetime: "2024-12-17T07:43:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/222523088.md)
  - [en](https://longbridge.com/en/news/222523088.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/222523088.md)
---

# Headman plans to sign a compensation agreement for the recovery of state-owned land use rights, expecting to receive compensation of 8.12 million yuan

According to the announcement from Headman (688577.SH), due to the renovation needs along Chengzhong Road in Yucheng Street, Yuhuan City, the company's land and buildings located on Chengzhong Road in Yuhuan City have been included in the expropriation scope. With the consent of the Yuhuan Municipal People's Government, the company signed the "State-owned Land Use Rights Recovery Compensation Agreement" with Yuhuan Old Town Renovation Investment Co., Ltd., Yuhuan Yucheng Street Office, and three other units, and is expected to receive a total compensation of 8.12 million yuan.

This expropriation will not affect the company's production and operations. The company has already established production bases in Yuhuan Puqing, Shamen Binhang Industrial City, and Shanghai Lingang, and the relevant facilities have also been put into use. In the future, the company will actively strengthen communication and coordination with government departments to protect the interests of the company and all shareholders to the greatest extent. The amount of compensation specified in the agreement is greater than the net value of fixed assets and intangible assets within the expropriation scope, and the company will strictly follow the relevant provisions of the "Enterprise Accounting Standards" for accounting treatment

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