Ningxia Yinxing Energy to Build Solar Generator for 220 Million Yuan; Shares Down 3%

MT Newswires Live05-29

Ningxia Yinxing Energy (SHE:000862) plans to invest 219.6 million yuan to build a 71.992-megawatt-peak distributed photovoltaic power generator, according to the company's filing on the Shenzhen Stock Exchange.

The generator will be built on the roofs and idle land of enterprises affiliated with its indirect controlling shareholder, Aluminum Corp. of China (SHA:601600, HKG:2600) or Chalco, and its direct controlling shareholder, Chalco Ningxia Energy Group, the Chinese manufacturer of control valves and environmental protection equipment said in its Wednesday filing.

Ningxia Yinxing Energy's shares fell less than 3% in recent trade. Chalco's shares jumped more than 3% on the Shanghai bourse.

Price (HKD): $5.57, Change: $-0.14, Percent Change: -2.45%

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