China Ludao Technology (HKG:2023) said it failed to report an acquisition of use rights for an industrial land parcel in China due to a misclassification error, a Friday bourse filing said.
The company's subsidiary, Zhejiang Guiren Technology, acquired land use rights from the Sanmen County Natural Resources and Planning Bureau for 34.2 million yuan after winning the legal tender.
The bid was won on March 19, 2024, and the completion took place on May 9, 2024.
The industrial site has an estimated total area of 126,981 square meters and is the second phase of the company's two-land investment plan.
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