Infund Holding delays land and building asset transfer again

Infund Holding (SZSE:002141) announced another delay in the transfer of land use rights and ownership of buildings located in Zhuhai's Jinwan District to Chenxi Industrial Investment. The original agreement, valued at RMB 142 million including tax, was initially approved in August 2021. Due to unresolved historical issues impacting land rights, the asset transfer deadline, previously extended to February 12, 2024, has been pushed back again to February 11, 2025. A supplementary agreement in February 2023 addressed compensation of RMB 576,150 to Chenxi Industrial Investment due to a reduction of 367.28 square meters in building area. The latest extension was approved in April 2024, with Chenxi Industrial Investment waiving Infund Holding's default liabilities. The company states that it is in negotiation with Chenxi Industrial Investment to continue fulfilling the transaction.