GRANDJOY(SZ:000031) Mei Ri Jing Ji Xin Wen·2025-12-03 16:37Core Viewpoint - Dalian City (000031.SZ) has initiated legal proceedings against the Caidian District Bureau of Natural Resources and Urban Construction in Wuhan due to a six-year land delivery dispute, involving over 1 billion yuan in claims [1][5]. Group 1: Legal Dispute - The lawsuit stems from a land use rights transfer contract signed on December 31, 2019, for a plot of land in Caidian District, which was intended for a mixed-use development project [5]. - Wuhan Deyue has paid all required land transfer fees and taxes, but the Caidian District Bureau has failed to deliver the land as legally required, resulting in the land being occupied [5]. - The company is seeking to terminate the land use rights contract, reclaim undeveloped land, and receive compensation totaling approximately 1.096 billion yuan, including land transfer fees, damages, and taxes [5]. Group 2: Business Performance - Dalian City has reported strong commercial operations in Wuhan, with the Wuhan Joy City project achieving a total customer flow of 23.5 million in 2024, a year-on-year increase of 17.5%, and sales of 1.59 billion yuan, up 13.6% year-on-year [6]. - The development of the Caidian plot has been stalled, contrasting with the growth of commercial projects, as the planning scheme for residential and educational land was approved in January 2020 but has not progressed due to land delivery issues [6]. - As of the third quarter, Dalian City reported revenues of 20.648 billion yuan, a year-on-year increase of 0.83%, and a net profit attributable to shareholders of -533 million yuan, a year-on-year increase of 9.17% [7].