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Anyuan Coal Industry Group plans to swap its coal business-related assets and liabilities for 57% of Ganzhou Jinhuan Magnetic Separation Technology Equipment, according to a Shanghai bourse filing on Wednesday.
Jiangxi Jiangwu Holding Development currently owns the stake.
Jiangxi Provincial Investment Group approved the plan, but it is still subject to shareholders' approval, the Chinese coal company said.
The company's shares dropped 3% at the close of Wednesday's trade.
Anyuan Coal Industry Group subsidiary Jiangxi Coal Group established Jiangxi Luoshi Mining with a registered capital of 120 million yuan.
Jiangxi Luoshi Mining aims to enhance coal mining operations, provide technical consulting and develop new energy solutions, according to a Feb. 22 filing with the Shanghai bourse.
The newly established company still needs to go through industrial and commercial approval registration procedures.
Shares of Anyuan Coal Industry Group were down 7% in recent trade.
Anyuan Coal Industry Group subsidiary Jiangxi Coal Group established Jiangxi Luoshi Mining with a registered capital of 120 million yuan.
Jiangxi Luoshi Mining aims to enhance coal mining operations, provide technical consulting and develop new energy solutions, according to a Feb. 22 filing with the Shanghai bourse.
The newly established company still needs to go through industrial and commercial approval registration procedures.
Shares of Anyuan Coal Industry Group were down 7% in recent trade.
This article was automatically generated by Dow Jones using technology from Automated Insights.
Stocks in Greater China gained on Friday.
Hong Kong's Hang Seng Index rose 0.1% to 20111.56, and China's Shanghai Composite Index rose 0.1% to 3400.14. The Taiwan Taiex index rose 0.1% to 23275.68.
Among Hang Seng constituents, Lenovo Group Ltd. was the biggest gainer during the session, surging 8.6%, and Li Auto Inc. surged 6.2%. Semiconductor Manufacturing International Corp. rounded out the top three movers on Friday, as shares surged 5.5%.
Zhongsheng Group Holdings Ltd. posted the largest decline among companies on the Hang Seng, falling 4.5%, followed by shares of Nongfu Spring Co. Ltd., which fell 4.0%. Shares of Haidilao International Holding Ltd. fell 3.3%.
Among large mainland China stocks, Fujian Dongbai (Group) Co. Ltd. A was the biggest gainer during the session, surging 10%, and Anyuan Coal Industry Group Co. Ltd. A surged 10%. Qingdao Copton Technology Co. Ltd. A rounded out the top three movers on Friday, as shares surged 10%.
Shenzhen Intellifusion Technologies Co. Ltd. A posted the largest decline, dropping 12%, followed by shares of Yunnan Yunwei Co. Ltd. A, which dropped 10%. Shares of Nanjing Chemical Fibre Co. Ltd. A dropped 10%.
In Taiwan, Taimide Technology Inc. was the biggest gainer among large companies during the session, surging 10%, and ALi Corp. surged 10% Global Brands Manufacture Ltd. rounded out the top three movers, as shares surged 9.9%.
Compucase Enterprise Co. Ltd. posted the largest decline, dropping 10%, followed by shares of Hiyes International Co. Ltd., which dropped 10%. Shares of Evergreen Steel Corp. dropped 7.4%.
On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.30 while the New Taiwan dollar held steady against the U.S. dollar at NT$32.79.
Data source: Dow Jones Market Data, FactSet
This article was automatically generated by Dow Jones using technology from Automated Insights.
Stocks in Greater China gained on Friday.
Hong Kong's Hang Seng Index rose 0.1% to 20111.56, and China's Shanghai Composite Index rose 0.1% to 3400.14. The Taiwan Taiex index rose 0.1% to 23275.68.
Among Hang Seng constituents, Lenovo Group Ltd. was the biggest gainer during the session, surging 8.6%, and Li Auto Inc. surged 6.2%. Semiconductor Manufacturing International Corp. rounded out the top three movers on Friday, as shares surged 5.5%.
Zhongsheng Group Holdings Ltd. posted the largest decline among companies on the Hang Seng, falling 4.5%, followed by shares of Nongfu Spring Co. Ltd., which fell 4.0%. Shares of Haidilao International Holding Ltd. fell 3.3%.
Among large mainland China stocks, Fujian Dongbai (Group) Co. Ltd. A was the biggest gainer during the session, surging 10%, and Anyuan Coal Industry Group Co. Ltd. A surged 10%. Qingdao Copton Technology Co. Ltd. A rounded out the top three movers on Friday, as shares surged 10%.
Shenzhen Intellifusion Technologies Co. Ltd. A posted the largest decline, dropping 12%, followed by shares of Yunnan Yunwei Co. Ltd. A, which dropped 10%. Shares of Nanjing Chemical Fibre Co. Ltd. A dropped 10%.
In Taiwan, Taimide Technology Inc. was the biggest gainer among large companies during the session, surging 10%, and ALi Corp. surged 10% Global Brands Manufacture Ltd. rounded out the top three movers, as shares surged 9.9%.
Compucase Enterprise Co. Ltd. posted the largest decline, dropping 10%, followed by shares of Hiyes International Co. Ltd., which dropped 10%. Shares of Evergreen Steel Corp. dropped 7.4%.
On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.30 while the New Taiwan dollar held steady against the U.S. dollar at NT$32.79.
Data source: Dow Jones Market Data, FactSet
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