Huaxin Cement (06655) transferred its wholly-owned subsidiary to the Guandu District People's Government of Kunming City and received compensation of 850 million yuan.

Huaxin Cement (06655) announced that, due to government requisition, on December 25, 2024, its controlling wholly-owned subsidiary Dongjun Cement, State-Owned Assets Kunming, and the Changshui Street Office of the People's Government of Guandu District, Kunming, Yunnan Province signed the "Agreement on the Recovery of State-owned Land Use Right and Compensation for Expropriation of Buildings, Attachments, and Machinery and Equipment" by Yunnan Huaxin Dongjun Cement Co., Ltd., agreeing to transfer the land use right and non-current assets such as buildings, attachments, and machinery and equipment held by Dongjun Cement to the Changshui Street Office of the People's Government of Guandu District, Kunming, Yunnan Province. After negotiation, the agreed price for the sale of assets and related compensation in this transaction is 850 million yuan. The subject of this transaction includes the land use right of 290,617.42 square meters under the name of Dongjun Cement and its buildings, attachments, machinery and equipment, as well as the remaining unexploited mineral resources fee of the limestone mine under the name of State-Owned Assets Kunming.