(Yicai) Aug. 2 -- Runjian, a Chinese provider of artificial intelligence for information technology operation services, said it plans to invest CNY650 million (USD87.6 million) in overseas projects through two subsidiaries and itself.

Runjian will carefully evaluate several overseas projects in Europe and Southeast Asia that align with its long-term strategies in the communication network, information network, energy network, and computing power network fields and choose a reasonable time to invest in them, the Nanning-based company announced yesterday.

Runjian International will pour up to CNY300 million, and another subsidiary R&J International (Singapore) with a maximum amount of CNY350 million, the parent firm noted.

The implementation methods of the overseas investment projects include the acquisition of potential enterprises and the participation in projects’ construction, operation, and maintenance, Runjian pointed out.

The new overseas investments will help Runjian improve its international development, increase its foreign market share, and enhance its comprehensive competitiveness, the company said, adding that they will not impact its earnings in the short term but will benefit its operations in the long run.

Runjian boasts nearly 100 companies from China and the Association of Southeast Asian Nations as its clients. The firm’s shares [SHE: 002929] were trading down 0.9 percent at CNY28.14 (USD3.89) apiece as of lunch break in Shenzhen today.

Editor: Futura Costaglione