July 6 – Sinoma Science and Technology (002080) filed its controlling subsidiary plans to invest 103.33 million yuan to form a compound material blade modeling factory with annual capacity of 200,000 units in Kangzhuang town, Beijing, reports the China Securities Journal. The company hopes this will improve its main businesses and extend its industrial chain.

The project, which entails an eight-month construction period, will earn 17.99 million yuan in net profits on revenues of 135.04 million yuan each year.

Sinoma Technology Suzhou Limited, another subsidiary, plans to set up a natural gas cylinder production factory with capacity of 350,000 units in Shandong for 393.8 million yuan. That project requires an estimated 18-month construction period and is expected to generate total profits of 79.34 million yuan on revenues of 555.06 million yuan each year.

Shares of Sinoma Science and Technology (002080) traded at 15.98 yuan as of 11:16 this morning.

Source:CapitalVue