GRANDJOY(SZ:000031) Mei Ri Jing Ji Xin Wen·2025-12-03 23:46Core Viewpoint - The company Daxuecheng has filed a lawsuit against the Caidian District Natural Resources and Urban Construction Bureau of Wuhan, claiming over 1 billion yuan due to a six-year land delivery dispute [1][2]. Group 1: Lawsuit Details - The lawsuit involves a land use rights transfer contract signed on December 31, 2019, for a plot of land in Caidian District, which has not been delivered as per legal requirements [2]. - Daxuecheng has paid all land transfer fees and related taxes but has not received the land, which remains occupied [2]. - The company is seeking to terminate the contract, reclaim the undeveloped land, and receive compensation totaling approximately 1.096 billion yuan, including 361 million yuan in land transfer fees, 713 million yuan in damages, and additional taxes and fees [2]. Group 2: Business Performance - Daxuecheng's commercial operations in Wuhan are performing well, with the Wuhan Daxuecheng project expecting 23.5 million visitors in 2024, a 17.5% increase year-on-year, and sales of 1.59 billion yuan, a 13.6% increase [3]. - The development of the Caidian land plot is stalled, contrasting with the growth of its commercial projects [3]. - As of the end of Q3, Daxuecheng reported revenues of 20.648 billion yuan, a 0.83% increase year-on-year, and a net loss of 533 million yuan, which is a 9.17% improvement compared to the previous year [3]. Group 3: Company Background - Daxuecheng is a real estate company under the state-owned COFCO Group, with control by the State-owned Assets Supervision and Administration Commission [4].