Hainan Rubber receives $178M in land compensation

Hainan Rubber Industry Group (SSE:601118) announced it has received approximately 178.43 million USD in land acquisition resettlement subsidies and young crop compensation. The company received 95.28 million USD for resettlement subsidies related to the circum-tropical rainforest highway project. An additional 83.15 million USD was received as young crop compensation for land requisitioned for production resettlement in Donghe Town, Dongfang City. The funds will be recognized as non-operating income when the conditions stipulated in the land acquisition agreement are met. The final accounting treatment is subject to auditor confirmation. The company advises investors to exercise caution.