September 29 -- Net263 (002467) reported that it plans to invest 70 million yuan to set up a subsidiary called Net263 Enterprise Communications, report yicai.com, citing the company’s announcement.

The company said it will transfer its data communication business as well as its corporate conference business to the new subsidiary, which will allow it to focus on providing more innovative communication services to its clients.

NET263 provides communication services to small and medium enterprises (SMEs) and individual businessmen.  Its product lineup includes 96446IP long-distance calls, 95050 multiparty calls and cell phone email services.