Suzhou Shihua New Material Technology (SHA:688093) signed a land-use rights transfer contract for its high-performance optical materials manufacturing base in Wujiang Economic and Technological Development Zone in Suzhou, China.
The functional material manufacturer acquired the land-use rights for 54,363 square meters of industrial land for 24.2 million yuan, according to a Wednesday filing with the Shanghai bourse. The transfer term is 50 years.
Shares of the company closed 1% higher on Wednesday.
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