According to a Wednesday, a Shanghai Stock Exchange filing, Beijing Balance Medical Technology (SHA:688198) plans to join the auction for state-owned construction land use rights in Changping New Town East District, China.
The industrial land, with a land area of 19,286.592 square meters, is expected to be the site for a planned industrial base project, which is estimated to cost up to 250 million yuan.
The medical device manufacturer, which placed a bidding deposit of 11.1 million yuan, expects to invest up to 60 million yuan in the auction, the filing said.
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