Idle assets under the branches and subsidiaries of CAHIC will be confiscated
CAHIC announced that the People's Government of Chengguan District, Lanzhou City has decided to requisition the idle assets under its branch and wholly-owned subsidiary, involving state-owned land, buildings, and equipment, with an assessed value of 229 million yuan. The requisition work will be organized and implemented by the Housing and Urban-Rural Development Bureau of Chengguan District, Lanzhou City, and the Yanchang Road Street Office has been entrusted to be responsible for the compensation and resettlement work
According to the announcement from Zhongmu Co., Ltd. (600195.SH), the People's Government of Chengguan District, Lanzhou City has decided to expropriate the state-owned land, above-ground buildings, and equipment located at No. 2 Yanchang Road, Chengguan District, Lanzhou City, belonging to the company's branch Zhongmu Industrial Co., Ltd. Lanzhou Biological Pharmaceutical Factory (referred to as "Zhongmu Lanzhou Factory") and the company's wholly-owned subsidiary Lanzhou Zhongmu Pharmaceutical and Medical Technology Co., Ltd. (referred to as "Lanzhou Zhongmu"). The implementation will be organized by the Housing and Urban-Rural Development Bureau of Chengguan District, Lanzhou City, and the specific compensation and resettlement work will be entrusted to the Yanchang Road Sub-district Office of the People's Government of Chengguan District, Lanzhou City, which is responsible for signing the expropriation compensation agreement with the company. The aforementioned assets include the land, real estate, and production equipment of Zhongmu Lanzhou Factory and the original site of Lanzhou Zhongmu, all of which are in a state of idleness. According to the evaluation conducted by Gansu Fangjia Real Estate Asset Appraisal Co., Ltd., the amount involved in the expropriation of the land, above-ground buildings, and equipment is 229 million yuan
