China XD Plastics Announces Signing of Land and Construction Project Purchase Agreement

China XD Plastics Company Limited

today announced that its subsidiary, Harbin Xinda Macromolecule Material Co. Ltd., entered into a land use right and construction project purchase agreement to purchase the land use rights to an aggregate of 198,913.7 square meters (approximately 50 acres) located in South Harbin Industrial Park, PRC, and construction project currently in process on the land, for an aggregate purchase price of RMB94.99 million (approximately U.S. $14.6 million).