Harbin Boshi Automation Signs Three-Year Packaging Line Operation, Maintenance Contract with CNPC

Harbin Boshi Automation signed a solid product packaging line operation and maintenance contract with China National Petroleum Corp.'s Guangxi Petrochemical Branch, according to a Friday filing with the Shenzhen bourse.

CNPC's Guangxi Petrochemical Branch will operate and maintain Boshi Automations' solid product packaging lines and sales of spare parts for 109.1 million yuan for three years, the filing said.

Harbin Boshi Automation secured a 116-million-yuan contract from Rongsheng Petrochemical to supply rubber processing systems.

The deal, covering cutting or dissolving equipment with embedded software, is set for delivery by the end of February 2026, according to a Thursday filing with the Shenzhen bourse.

Chinese shares finished higher on Tuesday, buoyed by the government's new economic growth targets unveiled during the National People's Congress.

The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.5%, or 17.75 points, to close Wednesday's session at 3,341.96. The Shenzhen Component Index inched 0.3% higher, or 30.02 points, to 10,709.46.

Premier Li Qiang's announcement of a projected 5% gross domestic product growth for the year injected a wave of optimism into the market.

Adding to the positive sentiment, Beijing revealed plans to issue 1.3 trillion yuan in ultra-long special treasury bonds. This move is expected to stimulate investment and support infrastructure projects, further contributing to economic expansion.

The government also outlined other key economic targets, including a 4% deficit-to-GDP ratio, a 5.5% urban unemployment rate, and a 2% consumer price index. These targets collectively aim to maintain stability and promote sustainable growth.

The positive market reaction was reflected in the performance of individual companies. Harbin Boshi Automation climbed 3.7% after signing an 88.5 million yuan supply deal.

Jiangxi Lianchuang Optoelectronic Science and Technology closed 3.5% amid plans to buy back shares of up to 150 million yuan.

Jiangsu Gian Technology rose 4.4% after its auto parts-manufacturing unit, Changzhou Ruidian Precision Technology, changed its name to Jiangsu Jingyan Intelligent Driving System.

Chinese shares finished higher on Tuesday, buoyed by the government's new economic growth targets unveiled during the National People's Congress.

The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.5%, or 17.75 points, to close Wednesday's session at 3,341.96. The Shenzhen Component Index inched 0.3% higher, or 30.02 points, to 10,709.46.

Premier Li Qiang's announcement of a projected 5% gross domestic product growth for the year injected a wave of optimism into the market.

Adding to the positive sentiment, Beijing revealed plans to issue 1.3 trillion yuan in ultra-long special treasury bonds. This move is expected to stimulate investment and support infrastructure projects, further contributing to economic expansion.

The government also outlined other key economic targets, including a 4% deficit-to-GDP ratio, a 5.5% urban unemployment rate, and a 2% consumer price index. These targets collectively aim to maintain stability and promote sustainable growth.

The positive market reaction was reflected in the performance of individual companies. Harbin Boshi Automation climbed 3.7% after signing an 88.5 million yuan supply deal.

Jiangxi Lianchuang Optoelectronic Science and Technology closed 3.5% amid plans to buy back shares of up to 150 million yuan.

Jiangsu Gian Technology rose 4.4% after its auto parts-manufacturing unit, Changzhou Ruidian Precision Technology, changed its name to Jiangsu Jingyan Intelligent Driving System.

Harbin Boshi Automation signed an 88.5 million yuan contract to provide palletizing equipment to Inner Mongolia Boyuan Yingen Chemical, according to a Shenzhen Stock Exchange filing on Wednesday.

Boyuan Yingen Chemical is a natural alkali miner and a producer of sodium carbonate, sodium bicarbonate and other products.

The Chinese automatic equipment manufacturer will provide a complete set of packaging and palletizing equipment, including embedded software before June 1.

The company's shares closed less than 4% higher.

Harbin Boshi Automation agreed to provide a complete set of packaging and palletizing equipment to the petrochemical engineering unit of state-owned China National Petroleum Corporation for almost 67 million yuan, according to a Shenzhen Stock Exchange filing on Friday.

The equipment will be delivered in batches before May 30 and June 20 to PetroChina Jilin Chemical Engineering, the Chinese automatic equipment manufacturer said.

Boshi Automation's shares slumped more than 7% in recent trade.