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China Ruifeng Renewable Unit Acquires Land for AI Computing Center; Shares Jump 9%

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China Ruifeng Renewable Energy (HKG:0527) said its wholly owned subsidiary Zhangjiakou Xingtu Intelligent Computing Technology acquired land use rights for four industrial land parcels in Zhangjiakou, Hebei province, for 84.9 million yuan, according to a Tuesday Hong Kong bourse filing.

Shares of the firm rose nearly 9% in recent trade.

The land, covering about 144,840 square meters, will be used for the first phase of the company's Xuanhua artificial intelligence computing power center project.

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