On December 12, Gelonghui reported that Kainet Optical (02276.HK) announced that its wholly-owned subsidiary ASAH I L ITE (THAILAND) CO., LTD recently signed another land purchase agreement with ASIA INDUSTRIAL ESTATE CO., LTD to acquire ownership of a piece of land for a cost of approximately 0.24 billion Thai Baht. The related cost will be paid using the company's internal resources.
The plot is located in a technology park in Thailand, adjacent to land acquired in a previous transaction, about 20 kilometers from Suvarnabhumi Airport in Bangkok, Thailand. It covers an area of approximately 21 rai and 2 ngan, equivalent to about 0.035 million square meters, designated for industrial use. According to relevant Thai laws and regulations, ASAH I L ITE (THAILAND) CO., LTD can permanently legally own the land after obtaining permission from the Industrial Estate Authority of Thailand (IEAT).
The company plans to use this plot to construct a production base and corresponding facilities, primarily for the construction of automated production lines for the manufacturing and processing of lenses for XR products. Subsequently, the Board of Directors will steadily follow up on the construction of the factory and capacity layout for this acquisition, in conjunction with the company's strategic positioning and market demand.
