ST Pawa: Subsidiary Pawa Lanxi plans to sign the "Lanxi Economic Development Zone Enterprise Asset Recovery Agreement" with Lanxi Development Zone Committee, with a total transaction amount of 73.6832 million RMB.

ST Pawa announces that its subsidiary Pawa Lanxi plans to sign the “Lanxi Economic Development Zone Enterprise Asset Recovery Agreement” with the Lanxi Development Zone Committee.
The Lanxi Development Zone Committee will recover, for a fee, the land and buildings (including structures, facilities, and attachments) located on the east side of Tongmo Road and the north side of Innovation Avenue in Guangmo Town, including the land use rights related to the company’s “Annual Production of 15k Tons of Ternary Precursor Project” and the ongoing construction projects.
The total transaction amount is RMB 73.68M.
(As the company’s project was not completed and put into operation, RMB 20,000,000 of “New Product R&D Subsidy” granted by the Lanxi Development Zone Committee will be returned. This amount will be deducted from the above transaction amount, making the actual transaction amount RMB 53,683,183.)
This transaction does not constitute a related-party transaction or a material asset reorganization.