Hainan Rubber receives $11.8M in land subsidies

Hainan Rubber Industry Group (SSE: 601118) announced on January 8, 2025, that it has received RMB81.64 million (approximately US$11.8 million) in resettlement subsidies for 18 land acquisition projects, including the G98 Ring Island Expressway expansion project. The funds are related to the government's land acquisition for these projects. Hainan Rubber will recognize the subsidies as non-operating income upon fulfillment of the terms outlined in the land acquisition agreements. The company noted that the final accounting treatment is subject to auditor review and confirmation, and cautioned investors about potential risks.