Harbin Air Conditioning Ends New Energy Material Plant Construction Plans

MT Newswires

Harbin Air Conditioning terminated plans to construct a new energy material plant, according to a Shanghai bourse disclosure on Tuesday.

The termination was decided due to changes in tariff policies, as well as fluctuations in transportation and exchange rates, and a hike in equipment import costs.

The Chinese air cooler manufacturer's subsidiary, Yizheng Yonghui Radiating Pipe Manufacturing, was supposed to construct a plant in Yizheng City, China, that would have produced 1.2 million sets of new energy materials and supporting products annually.

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Greater China Stocks Close Mixed; Hong Kong Leads Gainers

Dow Jones Newswires

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

Stocks in Greater China were mixed on Wednesday.

Hong Kong's Hang Seng Index rose 0.2% to 19261.23, and China's Shanghai Composite Index slipped 0.4% to 3227.12. The Taiwan Taiex index fell 1.2% to 22514.57.

Among Hang Seng constituents, Zijin Mining Group Co. Ltd. posted the largest decline, dropping 5.9%, followed by shares of Li Auto Inc., which fell 3.2%. Shares of WuXi AppTec Co. Ltd. fell 3.1%.

Semiconductor Manufacturing International Corp. was the biggest gainer among companies on the Hang Seng, surging 5.7%, and Xinyi Solar Holdings Ltd. gained 4.4%. Netease Inc. rounded out the top three movers on Wednesday, as shares gained 4.0%.

Among large mainland China stocks, Jiangsu Cowin Biotech Co. Ltd. A posted the largest decline, dropping 19%, followed by shares of Shandong Cynda Chemical Co. Ltd. A, which dropped 10%. Shares of Harbin Air Conditioning Co. Ltd. A dropped 10%.

Jiangsu High Hope International Group Corp. A was the biggest gainer during the session, surging 10%, and Shaanxi Construction Machinery Co. Ltd. A surged 10%. China Tourism & Culture Investment Co. Ltd. A rounded out the top three movers on Wednesday, as shares surged 10%.

In Taiwan, Cosmo Electronics Corp. posted the biggest decline among large companies, dropping 9.9%, followed by shares of Capital Securities Corp., which dropped 7.4%. Shares of Bizlink Holding Inc. dropped 7.2%.

Hwang Chang General Contractor Co. Ltd. was the biggest gainer among large Taiwan companies during the session, surging 10%, and Yieh Hsing Enterprise Co. Ltd. surged 10% USI 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$33.04.

Data source: Dow Jones Market Data, FactSet

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Harbin Air Conditioning to Invest 330 Million Yuan for Air Cooler Factory Upgrade

MT Newswires

600202

+1.59%

Harbin Air Conditioning is planning to invest about 330 million yuan in upgrading the green factory for smart manufacturing of air coolers.

The company intends to purchase new equipment and increase the production capacity of its main business.

The project is slated for completion by December 2026.

Shares of Harbin Air Conditioning closed 1% lower Thursday.

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Harbin Air Conditioning Ends New Energy Material Plant Construction Plans

Greater China Stocks Close Mixed; Hong Kong Leads Gainers

Harbin Air Conditioning to Invest 330 Million Yuan for Air Cooler Factory Upgrade

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