November 18 -- Beijing Orient National Communication Science and Technology (300166.SZ), a provider of  data analysis platforms, plans to invest a total of 224 million yuan to build a research and development center and office buildings, reports Shanghai Securities News, citing a company filing.

Of the total, 120 million yuan are excess funds raised from its initial public offering, while the remaining will come from working capital.

The company said its business had expanded rapidly since its listing, while staff numbers rose.

Through the construction of the research and development center, the company aims to reduce administrative cost, and increase overall management efficiency.

Source:Capitalvue