Core Viewpoint - Yida China (03639) has reached an agreement with Dalian Hengye to offset approximately RMB 2.7578 billion of unpaid debts through the transfer of property rights, following a court ruling requiring a repayment of RMB 296.6 million [1][2] Group 1: Property Transaction Details - The agreement involves the conditional transfer of all property rights from Dalian Changde, a wholly-owned subsidiary of the company, to Dalian Hengye, which is fully owned by the Dalian Finance Bureau [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 [1] - The construction and development of the property have been suspended since 2021 due to the pandemic and financial pressures, making it the only unencumbered asset in the area [1] Group 2: Financial Challenges - The company has explored various options to settle the unpaid debts, including cash payments and external financing, but has faced cash flow shortages [2] - There are no specific loan categories available under China's financing framework for compensation or refunds, which has hindered the company's ability to secure bank financing for settling the debts [2]
亿达中国(03639)拟向大连恒业转让物业以抵偿部分未偿还款项