Shanghai Electric Group Company (HK:2727) has released an update.
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Shanghai Electric Group Company Limited has announced the resumption of state-owned land use rights for its property at No. 1111 Humin Road, Shanghai, valued at RMB395.6 million. The transaction, approved by the company’s board, involves compensation for the land and buildings, as well as additional fees for discontinued operations. This strategic move aims to accelerate urban development in Shanghai’s Minhang District.
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