AVIC Shenyang subsidiary secures land for relocation project

AVIC Shenyang Aircraft Corp (AVIC Shenyang Aircraft) announced its wholly-owned subsidiary, Shenyang Aircraft Industry (Group) Co., Ltd., has signed a State-Owned Construction Land Use Rights Transfer Contract with the Shenyang Natural Resources Bureau. This agreement is a key step in the subsidiary's partial relocation and construction project, which aims to transfer and enhance its core capabilities within the Shenyang city area. The project was previously approved by AVIC Shenyang Aircraft's board of directors and shareholders in 2023.

The contract pertains to a parcel of land covering 2,244,633.00 square meters, located in Shenbei New District. Designated for airport use, the land use rights are granted for a period of 50 years, commencing from the date of land delivery as stipulated in the contract.

The total transfer price for the land use rights is RMB 74,746.2789 million. Payment is due in full by December 31, 2025. The land is expected to be delivered to Shenyang Aircraft Company by January 31, 2026.