On April 11th, China Boton Group, a company listed on the Hong Kong Stock Exchange, announced its acquisition of a land use right in Guangdong Province, China, through a bidding process. The company stated that it has signed a transfer contract with the seller, acquiring the land use right for a price of RMB 40,490,000 (equivalent to approximately HKD 46,232,016). The transfer contract took effect on April 7th, 2023.
According to the announcement, the land is located in Zone ZKD-002-54-02 of the Tonghu Ecological Smart Park in Huizhou, Guangdong, covering a total area of 54,533 square meters. The land use right has been granted to a project company for industrial use for a term of 50 years. China Boton Group stated that it currently leases a factory for manufacturing and selling electronic cigarette products in Huizhou, which is located near the newly acquired land.
As for the intended use of the new land, China Boton Group plans to build its headquarters and a second-phase project of an electronic atomizer manufacturing base (the Construction Project) on the land.
As two key areas of its business, China Boton Group mainly engages in the research and development, production, trade and sales of extracts, flavors, and fragrances, as well as the design and manufacturing of high-quality electronic cigarettes and related products.
It is worth noting that in the 2022 fiscal year, the electronic cigarette products division and the flavor enhancer division contributed approximately 84.3% of the company's total revenue.
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[2] Boton chooses Huizhou as location for its electronic atomizer headquarters.
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