Ningbo Deye Technology (SHA:605117) plans to invest up to $150 million to establish a subsidiary in Malaysia, according to a Shanghai Stock Exchange filing on Tuesday.
The subsidiary, Deye Malaysia, will have a registered capital of $30 million and will produce solar power generation technology services and photovoltaic equipment and components.
The Chinese solar inverter manufacturer will hold the Malaysian subsidiary through another unit, Deye Inverter (Singapore).
The company's shares rose less than 2% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments