Envicool to invest in new R&D, production base

Shenzhen Envicool Technology announced its intention to invest at least CNY 100,000,000 in a new facility in Shenzhen's Longhua District. The project, focusing on precision temperature control and energy-saving equipment, will be located on a plot of land at A923-0908 Guanlan Street, acquired through a public bidding process. The initial land purchase will cost CNY 2,400,000 with a bid guarantee of CNY 490,000. The land will be for industrial use and cover approximately 18,119 square meters, with planned construction of 82,080 square meters. The company said the investment will be funded through a combination of its own funds and self-raised capital and is still pending shareholder approval. It also cautioned that project is subject to uncertainties regarding the land auction, regulatory approvals, and market conditions.