Kuang-Chi Group, a diversified technology conglomerate in China, plans to establish two research institutions of metamaterial and new engines in the Xiongan New Area, and locate their industrial bases in Baoding city, Hebei province, Yicai.com reported.

The company, which develops and invests in meta-material, telecommunication, aerospace, AI and digital health technology, has signed strategic cooperation assignments with five organizations, including the provincial government of Hebei, the municipal government of Baoding as well as the district committee of Xiongan New Area.

Liu Ruopeng, chairman of the group, said the metamaterial research institution will feature a composite metamaterial intelligent structure and integrate the R&D of the electromagnetic, mechanical, RF and environmental functions.

Meanwhile, the engine research institution aims to fill in the market void for new types of engines at different power intensities for different industries.

According to the agreement, the metamaterial research institution and its industrial base will be built by the group’s A-share listed company, Kuang-chi Technology.

The new engine base will be built by Shenzhen Kuang-chi Space Technology, the subsidiary of Kuang-chi Tech, listed in Hong Kong.