Shida Shinghwa Advanced Material to Establish JV With Tengzhou Tianshui Biotechnology; Shares Jump 6%

MT Newswires Live

09/05

Shida Shinghwa Advanced Material (SHA:603026) subsidiary Shenghua Guohong signed an investment cooperation agreement with Tengzhou Tianshui Biotechnology to establish a joint venture.

Jining Shengying Chemical Products Trading, with a registered capital of 6 million yuan, will focus on chemical product training, according to a Friday filing with the Shanghai bourse.

Shenghua Guohong will hold a 55% stake in the joint venture, while Tengzhou Tianshui Biotechnology will hold the remaining 45% stake.

Shares of the battery manufacturer rose 6% in recent trade.

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