Shanghai Material Trading's subsidiary land acquisition received a compensation of 32.9057 million yuan

Zhitong
2025.09.29 07:41

Shanghai Materials Trade Co., Ltd. announced that its controlling subsidiary, Bailian Automobile, has leased the Phase II land at 3550 Gonghe New Road, Shanghai, which is being reserved. Bailian Group will compensate Bailian Automobile for other operating losses and additional expenses due to land reservation in the amount of a total of 32.9057 million yuan for the year 2025. This transaction constitutes a related party transaction but does not constitute a major asset restructuring and does not need to be submitted for shareholder meeting approval. In the past 12 months, the company and its controlling subsidiaries have conducted a total of 3 transactions with Bailian Group and its subsidiaries, amounting to 28.1709 million yuan. This compensation is expected to increase the company's total profit for the year 2025 by approximately 24 million yuan

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