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Is Lugong Group a state-owned enterprise?
No. State-owned enterprises refer to wholly state-owned enterprises in which the State Council and local people's governments perform the responsibilities of investors on behalf of the state respectively. According to the enterprise investigation, Xiamen Lugong Group Co., Ltd. is a private enterprise with an investment of 50.08 million yuan and registered in Xiamen Municipal Market Supervision Administration. Therefore, Lugong Group is not a state-owned enterprise.
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