Core Viewpoint - Yida China (03639) announced a court ruling requiring an outsourcing company to repay approximately RMB 296.6 million to the Dalian Finance Bureau, leading to a property transfer agreement with Dalian Hengye as part of the settlement [1] Group 1: Property Transfer Agreement - The agreement involves Yida China's wholly-owned subsidiary Dalian Changde and the outsourcing company, which conditionally agrees to transfer all property rights to Dalian Hengye in exchange for settling part of the outstanding debt amounting to RMB 275.78 million [1] - The property, located in Dalian's Ganjingzi District, has a land area of approximately 36,950.8 square meters and a planned construction area of about 74,500 square meters, with five above-ground buildings totaling approximately 49,300 square meters and an underground garage of about 25,200 square meters, all currently under construction [1] Group 2: Reasons for Property Selection - The selected property for transaction is considered the most favorable option for the company and is the only unencumbered asset in Dalian's Ganjingzi District [1] - The construction and development of the property have been suspended since 2021 due to the pandemic and financial pressures, leading the company to halt investments while continuously monitoring the market demand for industrial leasing [1] Group 3: Financial Challenges - The company has explored various options to settle the outstanding debt, including cash payments and external financing; however, insufficient cash flow has hindered repayment capabilities [2] - The absence of specific loan categories for compensation or refunds within China's financing framework has further obstructed the company's ability to secure bank financing for settling the outstanding amounts [2]
亿达中国拟向大连恒业转让物业以抵偿部分未偿还款项