Core Viewpoint - The case involves a significant dispute over land rights in Dongguan, where two companies, Hechuang and Herong, paid a total of 17.21 billion yuan for land but faced the government's decision to reclaim the land without compensation and impose a fine of 3.44 billion yuan due to alleged idleness [1][16]. Group 1: Background of the Case - Hechuang and Herong companies acquired 258 acres of land in Dongguan for the "Ziguang Chip Cloud Industrial City Project," with Hechuang paying 1.67 billion yuan for 108 acres and Herong paying 15.54 billion yuan for 150 acres [1][7]. - The land was intended for a digital and intelligent industrial city, including a 5G technology research center and a commercial complex [7][8]. - The companies signed contracts with the Dongguan government in 2019 and paid the full amount for the land [6][7]. Group 2: Legal Proceedings - In 2021, Dongguan's Natural Resources Bureau initiated an investigation into the alleged idleness of the land, leading to a fine and the decision to reclaim the land in 2023 [2][16]. - The companies filed for administrative review, which was rejected, and subsequently sued the Dongguan government and the Natural Resources Bureau [3][18]. - The first-instance court ruled against the companies in January 2025, leading them to appeal the decision [4][22]. Group 3: Impact of External Factors - The COVID-19 pandemic significantly delayed the project, affecting the ability to commence construction as per the original timeline [8][20]. - The companies argued that the pandemic constituted force majeure, impacting their ability to meet deadlines [20][21]. - The financial troubles of Ziguang Group, which was linked to the project, also influenced the government's stance on the project [11][20]. Group 4: Government's Justification - The Dongguan Natural Resources Bureau justified the reclamation of the land based on the "Idle Land Disposal Measures," stating that the companies failed to commence development within the stipulated time [12][16]. - The bureau's actions were described as lawful and not isolated incidents, indicating a broader policy on idle land [6][23]. - The bureau's director did not provide specific examples of similar cases involving such large sums of money being reclaimed after full payment [23].

Core Viewpoint - The article discusses a significant legal dispute involving two private companies, Hechuang Company and Herong Company, over a land acquisition in Dongguan, Guangdong Province, where the local government decided to reclaim the land and impose a hefty penalty for alleged idleness, raising questions about the fairness and legality of such actions [4][10][27]. Group 1: Background of the Case - In 2019, Hechuang Company and Herong Company paid a total of 1.721 billion yuan for 258 acres of land in Dongguan for the "Ziguang Chip Cloud Industrial City Project" [4][11]. - The land was intended for developing a digital and intelligent industrial new city, including a 5G technology research center and a commercial complex [11][14]. - The companies faced significant delays due to the COVID-19 pandemic, which hindered project progress and communication with international design teams [14][16]. Group 2: Government Actions - In 2021, Dongguan's Natural Resources Bureau initiated an investigation into the alleged idleness of the land, leading to a decision in 2023 to impose a 344 million yuan penalty and reclaim the land [5][20][27]. - The government cited the "Idle Land Disposal Measures," stating that the land was deemed idle as the companies failed to commence development within the stipulated timeframe [20][27]. - The companies contested the government's actions, arguing that the pandemic constituted a force majeure event that should exempt them from penalties [31][32]. Group 3: Legal Proceedings - The companies filed lawsuits against the Dongguan government and the Natural Resources Bureau, but the first instance court ruled against them in January 2025 [7][33]. - The companies appealed the decision, and the second instance court hearing took place in May 2025, with a ruling still pending as of September 2025 [9][35]. - The first instance court acknowledged procedural flaws in the government's investigation but maintained that it did not affect the determination of the land's status [33].

Group 1 - Yongji Co., Ltd. is planning to acquire control of Nanjing Tenafly Electronic Technology Co., Ltd. through a combination of issuing shares and cash payments, with the stock and convertible bonds set to be suspended from trading starting August 14, 2025 [1][2][4] - The acquisition is still in the planning stage, and no formal agreement has been signed yet, indicating that the specific transaction details are still under discussion [5][6] - Yongji's main business currently focuses on the design, research and development, production, and sales of cigarette labels and other packaging products, with over 80% of revenue coming from the printing and packaging sector [6][7] Group 2 - The main business of Yongji Co., Ltd. includes the production of data storage control chips, which are applicable in various fields such as consumer electronics, graphics video, automotive storage, industrial-grade, and data centers [5] - In the first quarter of this year, Yongji reported a decline in net profit attributable to the parent company, primarily due to a decrease in sales prices of its main cigarette label products and increased competition in the printing and packaging industry [8][9] - As of August 13, 2025, Yongji's stock price was reported at 10.88 yuan per share, with a total market capitalization of 4.6 billion yuan [10]