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An update from Nanfang Communication Holdings Ltd. ( (HK:1617) ) is now available.
Nanfang Communication Holdings Ltd. has announced the acquisition of land use rights in Changzhou City, Jiangsu Province, China, through its subsidiary Jiangsu Nanfang IT. The acquisitions, completed in 2022 and early 2023, involve both collectively-owned and state-owned lands, totaling over 44,000 square meters. Additionally, the company has entered into construction contracts for the development of factory buildings and waste storage facilities on these lands, with a total contract value of RMB120 million. These transactions are significant for the company, constituting both discloseable and major transactions under Hong Kong’s Listing Rules, and are expected to bolster the company’s operational capacity and market positioning.
More about Nanfang Communication Holdings Ltd.
Nanfang Communication Holdings Ltd. operates in the telecommunications industry, focusing on the production and supply of optical fiber cables and related products. The company primarily serves the Chinese market, leveraging its strategic positioning to enhance its market presence.
Average Trading Volume: 2,392,416
Technical Sentiment Signal: Hold
Current Market Cap: HK$183.8M
Learn more about 1617 stock on TipRanks’ Stock Analysis page.