(Yicai Global) Aug. 19 -- The share price of Han's Laser Technology Industry Group has risen after the Chinese laser equipment maker regretted that it had earlier disclosed inaccurate information about the progress of its research unit project in Switzerland. The firm reassured that the center will be ready next year.

Han's Laser's [SHE: 002008] stock price increased 6.6 percent to CNY33.2 (USD4.70) this afternoon.

Han's Laser apologizes that it did not disclose information in an accurate and timely manner, the Shenzhen-based firm said in a statement yesterday, adding that the center will be finished as scheduled in 2020. 

Late last month, a reporter from Yicai Global visited the proposed venue, which was supposed to be an old-hotel-turned-into-a-research center in Engelberg, a small alpine town, but found out that the lab's actual registered address is just a 10-meter-square room not in the Europaischer Hof but in another building in the same town. Han's Laser purported it had begun renovation work of the hotel in 2016. 

The project is lagging behind schedule because the local government has requested to retain the current function of the hotel due to its history of 100 years, as well as because local residents have complained about the construction plan, the firm announced on Aug. 2. The company already raised the budget to CNY1.1 billion (USD156.1 million) from the original CNY50 million.

Editor: Emmi Laine