Glonway July 4th 丨Haina Intelligence (01645.HK) announced,On July 4, 2023,A wholly-owned subsidiary of the companyJinjiang Haina and contractorsFujian Huiyu Construction Engineering Co., LtdA construction contract was signed, according to which the contractor agreed to undertake the construction project at a cost of RMB 176 million.
The content relates to the acquisition of land use rights on this plot and the change in the use of the company's proceeds, respectively. Jinjiang Haina has successfully invested a total land area of about 72,638 square meters to be used to build R&D centers and other supporting facilities.
The R&D center will assist the Group (i) in providing product development services and shortening the transportation time for disassembling and reassembling raw materials in the Group's production process and facilitate staff deployment; (ii) better monitor the development of key products, shorten the preparation time for developing customized products, and further improve the R&D efficiency of new products; and (iii) improve cost efficiency. The Group plans to produce and process components for the Group's products on its own rather than external procurement, which can reduce procurement time and optimize the production process of equipment.
On the other hand, the additional space on the plot will be used to build new manufacturing plants and other office buildings.