Jiangxi Hungpai New Material to Form Silane Production JV in Thailand; Shares Rise 10%

MT Newswires Live

Oct 11, 2024

Jiangxi Hungpai New Material (SHA:605366) will establish a joint venture with Thai investors for the production of silanes, a toxic gas used for the production of silicon, according to a Friday filing with the Shanghai Stock Exchange.

The joint venture will be named Thailand Hungpai New Materials with a capital of $600,000.

Hungpai will contribute 49% of the JV, or $294,000, while investor Polapat will invest $300,00 or 50%, and another investor, Vararat, will invest 1%, or $6,000, the filing said.

The JV will build a factory in Chonburi Province, Thailand.

Shares jumped 10% during Friday's morning trading.

Price (RMB): Â¥6.35, Change: Â¥+0.58, Percent Change: +10.05%

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