Jiaxin Silk (002404): The Compensation Fund For House Expropriation Will Be RMB 9989391
Jiaxin silk (002404. SZ) announced that on January 28, 2020, the company and Jiaxing Xinxian Investment Development Co., Ltd. (hereinafter referred to as "Xinxian investment") signed the house currency acquisition and demolition agreement of Jiaxing Nanhu Yuli community (Yuli cultural street) construction project, Xinxian investment expropriated the land and real estate located in North Street, Yuxin Town, Jiaxing City from Xinxian investment. The expropriation involves 4425.4 square meters of state-owned land use right, 4944.05 square meters of building area, and the compensation amount is 9989391 yuan.
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