Changes in Hong Kong stocks | China's Bolton (03318) is now up more than 25% Shenzhen Bolton signs land acquisition agreement and will receive cash compensation of RMB 2,272 billion

The Zhitong Finance App learned that after China's Bolton (03318) resumed trading 55% higher, the increase narrowed. As of press release, it rose 25.56% to HK$2.26, with a turnover of HK$7,527,200.

According to the news, China Bolton announced that its indirect wholly-owned subsidiary Shenzhen Bolton has signed a land acquisition agreement with local authorities. According to this, Shenzhen Bolton should hand over the proposed land and land use rights to the local authorities in exchange for cash compensation of 2,271.9 billion yuan (about HK$2,495 billion).

According to the announcement, the land to be expropriated is a plot of land located on Leli Road, Nanshan District, Shenzhen, Guangdong Province, China, with a total land area of about 64,600 square meters. The land to be expropriated is part of a plot of land owned by Bolton, Shenzhen, with a total land area of 801.67 million square meters. The Group headquarters and the land to be expropriated are located on the above plot. Furthermore, the amount of compensation is higher than the independent valuation of the land to be expropriated. The Company will benefit from compensation payments, which will enhance the Group's working capital.