CHANGCHAI CO.,LTD: The People's Government of Xinbei District, Changzhou City will implement expropriation of the company's foundry buildings
CHANGCHAI CO.,LTD announced that the People's Government of Xinbei District, Changzhou City has decided to expropriate the company's foundry building due to the need for public interest in the reconstruction of the old city area. The expropriation area is 76,179.89 square meters, involving the company's original foundry base, which has now been transferred to a wholly-owned subsidiary. It is expected that there will be no significant impact on production and operations. The specific compensation amount will be determined after the agreement is signed
According to the Zhitong Finance APP, SuChangChai A (000570.SZ) announced that on March 6, 2025, the company received the "Decision on the Expropriation of State-owned Land Houses" (Changxin Zheng [2025] No. 1) issued by the People's Government of Xinbei District, Changzhou City. Due to the need for public interest in the reconstruction of the old city, the People's Government of Xinbei District, Changzhou City, decided to expropriate the houses within the scope of the old city reconstruction project (Phase I) of the Sanjing Street Company Foundry and surrounding areas. Expropriation details: Changchai Co., Ltd. Changzhou Foundry Branch, located east of Changjiang Road, south of Feilong Road, west of Huashan Road, and north of the Huning Intercity Railway, with an expropriation area of 76,179.89 square meters.
The expropriation area is the company's original foundry base, which has been fully transferred to its wholly-owned subsidiary Jiangsu Changchai Machinery Co., Ltd. in 2023 and is currently idle. It is expected that this will not have a significant impact on the company's production and operations. The specific compensation amount for this expropriation will be subject to the officially signed expropriation compensation agreement, and the impact on the company's profit and loss is yet to be determined
