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Webray (688651.SH) has declared its intention to acquire land use rights within the Xi'an High-tech Zone, via its fully-owned subsidiary, Xi'an Webray Xingtong. This move is aimed at funding and developing the 'Intelligent Communication Security R&D and Production Hub Project'. The entire project is estimated to require an investment of around 249 million yuan, with roughly 199 million yuan earmarked for fixed asset investments (this sum encompasses land transfer fees). The financial resources for this endeavor will be drawn from a mix of the company's internal funds and bank loans, among other potential sources. It's important to note that the land acquisition for this project will be conducted through a public auction, a process that inherently carries a degree of uncertainty.
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