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Kaifa Tech's Controlling Shareholder's Unit Bags Zone Development Bid for 130 Million Yuan; Shares Up 6%

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-- Shenzhen Kaifa Technology (SHE:000021) said China Electronics System Engineering Second Construction, or CESEC Second Construction, won the company's public tender for the China Electronics Dongguan Kaifa's Development Zone D Electronic Product Manufacturing and Supporting Project for 129.8 million yuan, according to a Shenzhen bourse filing on Wednesday.

The bid was led by the Chinese electronics manufacturer's subsidiary, Dongguan Kaifa Technology.

CESEC Second Construction is a subsidiary of the company's controlling shareholder, China Electronics Corporation.

The project includes the construction of Plant No. 3 in the Development Zone D. The construction period will run for 410 days.

The project's contract price is 134.4 million yuan.

The company's shares jumped 6% during recent trade.

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