New focus (00360.HK) announcement, Newfox Optoelectronics Technology (Shanghai) Co., Ltd., a wholly owned subsidiary of the company, recently received a notice from the Collection and compensation Office of Shanghai Qingpu Industrial Park.CrashtimeracingIt's a notice. According to the above notice, the land and its above-ground buildings held by Newfox Optoelectronics, located at 4589 Qingsong Road, Qingpu District, Shanghai, are within the scope of land collection and storage, so it is possible that they will be expropriated.
The target property includes an area of 79Crashtimeracing183.77 square meters of land, and production plants, office buildings, research and development centers, warehouses and supporting buildings with a total area of 29942.16 square meters As of the date of this announcement, the target property is used for the business operation of Newfox Optoelectronics. The land in the target property is for industrial use. Newfox Optoelectronics is the main body of the group's manufacturing industry, mainly engaged in the production and sale of automotive electronic products, including inverters, chargers, multi-function power supplies and coolers. As of the date of this announcement, Newfox Optoelectronics has not yet signed a land expropriation agreement with relevant government agencies.
Newfox Optoelectronics will communicate with relevant government agencies on property expropriation and start relevant work in due course, including, but not limited to, finding or building new alternative production plants and hiring third-party appraisers to assess the value of the target property. The management of the company and Newfox Optoelectronics will try their best to reduce the possible adverse impact of property expropriation on the normal operation of Newfox Optoelectronics, and will discuss and decide on property expropriation in accordance with applicable laws and internal systems, in order to promote property expropriation and ensure that it is in the interests of the company and its shareholders.
