Naruida Technology to Invest HK$10 Million in HK Subsidiary
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Naruida Technology is planning to invest HK$10 million to establish a wholly-owned subsidiary in Hong Kong. The tentatively named Narui Radar International will focus on radar research and development, manufacturing and processing, according to a Monday filing with the Shenzhen bourse. The investment is subject to approvals of relevant government agencies such as the Hong Kong investment authority, the commercial authority and the foreign exchange administration authority. Shares of the radar system manufacturer closed 9% higher Monday.
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