Zhejiang Walrus New Material (003011.SZ) plans to sell the under-construction factory building to Huali Industrial Co., Ltd. for a price of 41.37 million yuan.

Zhejiang Walrus New Material (003011.SZ) announced that the company plans to sell the remaining unallocated construction site for RMB 41.3774 million to Huaining Huaxin Industrial Co., Ltd. (referred to as "Huaxin Industrial"). The transaction is expected to result in a disposal profit of approximately RMB 50,000 and will impact the net profit by approximately RMB 40,000. The planned transfer of the construction site is located in the construction project west of G524 National Road, south of Shijing Road in Haichang Street, Huaining City. Specifically, it includes the transfer of the state-owned land use rights with an area of 16,733 square meters, the land use is for industrial purposes, the above-ground building area is 41,583.95 square meters, the underground building area is 214.18 square meters, and the property is not yet completed or have not obtained ownership certificate. The announcement stated that due to the impact of transferring domestic orders to overseas production bases, the company holding all construction projects will result in idle assets. Transferring the construction project will help the company quickly recover the funds.