Core Viewpoint - The company, Dayuecheng, has initiated legal action against a local natural resources and urban construction bureau due to a dispute over an administrative agreement related to land use rights, seeking to protect its legal rights and recover financial losses [2][5]. Group 1: Legal Action Details - Dayuecheng's subsidiary filed a lawsuit after the local bureau failed to deliver the project land as per the contract signed on December 31, 2019, for the P(2019)130 land parcel [2]. - The lawsuit aims to terminate the land transfer contract, recover the land transfer payment of 361 million yuan, and seek compensation for damages due to delayed delivery, totaling approximately 713 million yuan [3]. Group 2: Financial Claims - The company is requesting the return of the land transfer payment of 361 million yuan and compensation for taxes paid amounting to 14.64 million yuan, as well as additional fees of 7.38 million yuan [3]. - The compensation for the delay is calculated at a rate of 0.1% per day from April 22, 2020, until the return of the transfer payment, with a preliminary estimate of damages reaching 713 million yuan [3]. Group 3: Company Background - Dayuecheng Holdings is a real estate investment and management platform under COFCO Group, listed since 1993, with operations in various sectors including commercial, residential, and property services across nearly 40 major cities [5]. - The P(2019)130 land parcel, with a total area of 165,459 square meters, was acquired at a base price of 1.129 billion yuan, with a floor price of 2,351.6 yuan per square meter [5].

Core Viewpoint - Dalian City Holdings has initiated legal action against the Caidian District Natural Resources and Urban Construction Bureau due to a dispute over an administrative agreement regarding land use rights, seeking to protect its legal rights and recover financial losses [1][2]. Group 1: Legal Action Details - The lawsuit was filed by the subsidiary "Wuhan Deyue" to resolve issues related to the land transfer contract signed on December 31, 2019, for plot P(2019)130, which has not been delivered as per the agreement [1]. - The company claims that it has paid all land transfer fees and taxes but has not received the land, leading to the decision to sue for contract termination and compensation [1][2]. - The company is requesting the return of 361 million yuan in land transfer fees and compensation for losses amounting to 713 million yuan, calculated from April 22, 2020, until the return of the fees [2]. Group 2: Financial Implications - The lawsuit also includes claims for reimbursement of taxes paid totaling 14.64 million yuan and additional fees of 7.38 million yuan [2]. - The company asserts that this legal action is a legitimate measure to protect its rights and will not significantly impact its daily operations or debt repayment capacity [2]. - The outcome of the lawsuit is still uncertain as the case has not yet been heard in court, and the company will fulfill its disclosure obligations based on the case's progress [2]. Group 3: Background Information - The land in question was part of a larger auction in October 2019, where 10 plots were sold for a total of 10.9 billion yuan, with plot P(2019)130 being acquired by Dalian City Holdings [3]. - The total area of the plot is 165,459 square meters, with various planned floor area ratios and a minimum requirement for public facilities, including kindergartens [3].