(Yicai Global) Dec. 4 -- China's largest integrated circuit maker Tsinghua Unigroup and several subsidiaries have purchased a CNY6.6 billion (USD934 million) parcel of land in Beijing's tech-heavy Haidian district at auction in order to build a science and tech innovation headquarters.

The local government had originally intended the 70,600 square meter plot be used for commercial financial services, research, development and design, Tsinghua's subsidiary Unisplendour announced today. The group intends to turn the facility into a global headquarters and research hub for artificial intelligence, integrated circuits, cloud computing and big data.

Shares in Unisplendour [SHE:000938] leapt on the news but had simmered to CNY27.60 (USD3.90) a share, up 0.84 percent from yesterday's close, at the closing bell today.

Tsinghua Unigroup itself will take a 71 percent stake in the property, while Unisplendour will hold 19 percent. Unigroup Guoxin Microelectronics and Beijing Uni Science & Technology Service Group will each own 5 percent.

Editor: James Boynton