Financial Wire

CATL to Set Up 30 Billion Yuan New Energy Mineral Resource Subsidiary; Shares Jump 4%

-- Contemporary Amperex Technology (SHE:300750, HKG:3750) plans to establish a new energy mineral resource subsidiary with a registered capital of 30 billion yuan, according to a Wednesday disclosure on the Shenzhen bourse.

The planned subsidiary, to be named Times Resources Group (Xiamen), will explore mineral resources, process metal and sell chemical products.

The company will fully own the subsidiary.

The battery maker's Hong Kong shares jumped 4%, while its Shenzhen-listed shares rose 2% during the morning trade.

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