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Huayan Robotics to Buy China Property

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Guangdong Huayan Robotics (HKG:1021) agreed to acquire a China property from Pengxia Robotics for a little over 85.1 million yuan, according to a Wednesday Hong Kong bourse filing.

Shares of the robotics company were up nearly 1% in Thursday afternoon trading.

The property is located at floors 7-13 of a building in Pengxia Robotics Intelligent Manufacturing Park, Guangdong Province, and is zoned for industrial use.

Following the acquisition, the company will be able to expand its production capacity, which is currently expected to reach full utilization by year-end.

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