On May 26, Tiancheng Technology announced that its wholly-owned subsidiary, Guangdong Tiancheng Chemical Co., Ltd., had received a "Decision on the Collection of Land Idle Fees" from the Zhuhai Natural Resources Bureau. Pursuant to this decision, Tiancheng Chemical is obliged to pay a land idle fee of 2.165782 million yuan, representing 20% of the 10.828910 million yuan transfer price for the industrial land. The specific land parcel in question is situated within the Fine Chemical Industrial Zone of the Zhuhai Economic and Technological Development Zone, encompassing an area of 20,864.95 square meters. The company has affirmed its commitment to fulfilling the payment procedures within the stipulated 30-day period as outlined in the decision.
