PHARE receives $44.9 million relocation compensation

NetEase Finance December 2, the night of the Thursday, the company issued a notice announced that the companies received 44.9 million yuan relocation compensation, after deducting the relevant costs, the balance of funds into the capital reserves.　　According to the requirements of Jiangyin City Master plan, Jiangyin Shengda Land Reserve Development Center According to the relevant documents, it is necessary to demolish the houses and attachments located at No. No. 203 North Tongjiang Road. June 5, 2009, the Tongjiang and Jiangyin Shengda Land Reserve Development Center signed the "about Jiangsu PHARE Co., Ltd. (North Road, No. No. 203) Relocation compensation agreement."　　Under the terms of this agreement, PHARE will receive a total of 4,489.9.12 million yuan of relocation compensation. December 1, 2010, PHARE received the agreement of the full compensation of 4,489.9.12 million Yuan. After deducting the loss of the company's buildings, machinery and equipment, and the removal costs and compensation costs attributable to the company at No. 203 Tongjiang North Road in Jiangyin, the government's compensation payments were transferred to the capital reserves and enjoyed by all shareholders, said Phare.