Baotailong New Materials' Subsidiary Resumes Coal Mine's Operations

Baotailong New Materials subsidiary Longmei Tiantai received safety facility design approval from the Heilongjiang Provincial Coal Production Safety Administration for the construction of the Donghui coal mine.

Donghui has coal reserves of 246.3 million tons and a planned annual production capacity of 1.8 million tons, according to a Wednesday filing with the Shanghai bourse.

Donghui Coal Mine is expected to enhance Baotailong New Materials' coal supply, reduce raw material costs, and boost production capacity and profitability.

Shares of the coal producer rose 2% in recent trade.

Baotailong New Materials subsidiary Longmei Tiantai received safety facility design approval from the Heilongjiang Provincial Coal Production Safety Administration for the construction of the Donghui coal mine.

Donghui has coal reserves of 246.3 million tons and a planned annual production capacity of 1.8 million tons, according to a Wednesday filing with the Shanghai bourse.

Donghui Coal Mine is expected to enhance Baotailong New Materials' coal supply, reduce raw material costs, and boost production capacity and profitability.

Shares of the coal producer rose 2% in recent trade.

This article was automatically generated by Dow Jones using technology from Automated Insights.

Stocks in Greater China fell on Thursday.

Hong Kong's Hang Seng Index slipped 0.1% to 19264.80, and China's Shanghai Composite Index slipped 0.6% to 3211.39. The Taiwan Taiex index fell 1.4% to 23081.13.

Among Hang Seng constituents, Li Ning Co. Ltd. posted the largest decline, dropping 5.5%, followed by shares of Zhongsheng Group Holdings Ltd., which fell 3.9%. Shares of Li Auto Inc. fell 3.9%.

Tingyi (Cayman Islands) Holding Corp. was the biggest gainer among companies on the Hang Seng, surging 13%, and China Hongqiao Group Ltd. surged 5.3%. Anta Sports Products Ltd. rounded out the top three movers on Thursday, as shares gained 4.3%.

Among large mainland China stocks, Shandong Kexing Bioproducts Co. Ltd. A posted the largest decline, dropping 11%, followed by shares of Zhejiang Aokang Shoes Co. Ltd., which dropped 10%. Shares of Shandong Lukang Pharmaceutical Co. Ltd. A dropped 10%.

Baotailong New Materials Co. Ltd. A was the biggest gainer during the session, surging 10%, and Liaoning Shidai Wanheng Co. Ltd. A surged 10%. Epoxy Base Electronic Material Corp. Ltd. rounded out the top three movers on Thursday, as shares surged 10%.

In Taiwan, Lemtech Holdings Co. Ltd. posted the biggest decline among large companies, dropping 10%, followed by shares of Asia Optical Co. Inc., which dropped 9.9%. Shares of KHGears International Ltd. dropped 9.8%.

Vactronics Technologies Inc. was the biggest gainer among large Taiwan companies during the session, surging 10%, and Tingyi (Cayman Islands) Holding Corp. TDR surged 9.9% Adimmune Corp. rounded out the top three movers, as shares surged 9.8%.

On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.33 while the New Taiwan dollar weakened 0.2% against the U.S. dollar at NT$32.93.

Data source: Dow Jones Market Data, FactSet

Baotailong New Materials' unit, Qitaihe Baotailong Mining, resumed the operation of the Baozhong Coal Mine, according to a Shanghai Stock Exchange disclosure on Tuesday.

The local government of Qitaihe District, Qitaihe City, Heilongjiang Province, China approved the resumption of the mine's operations following an inspection and review.

The mine was designed to produce 300,000 tons of coal every year, the Chinese coal producer said.

The company's shares closed less than 3% lower.

Baotailong New Materials secured approval for the resumption of operations at its Wukuang mine in China's Heilongjiang province.

Wukuang has a designed production capacity of 300,000 tons per year and will function as a formal production mine after operations resume, according to a Monday filing with the Shanghai bourse.

The resumption is expected to raise the company's raw coal self-supply capacity and boost future profitability.

Baotailong New Materials secured approval for the resumption of operations at its Wukuang mine in China's Heilongjiang province.

Wukuang has a designed production capacity of 300,000 tons per year and will function as a formal production mine after operations resume, according to a Monday filing with the Shanghai bourse.

The resumption is expected to raise the company's raw coal self-supply capacity and boost future profitability.