China Sanjiang Unit Signs Energy Management Deal; Shares Gain 7%

MT Newswires Live08-04

China Sanjiang Fine Chemicals (HKG:2198) unit Sanjiang Chemical has entered into an energy management agreement with Zhejiang Haoxing Energy Conservation to upgrade motors and cooling equipment at its sixth-phase plant, according to an Aug. 1 Hong Kong bourse filing.

Shares of the company gained about 7% in Monday's recent trade.

The deal covers a term through 2027, with annual payment caps set at 12.5 million yuan for 2025 and 25 million yuan each for 2026 and 2027, based on shared energy savings.

Haoxing Energy Conservation, majority-owned by a controlling shareholder, will install proprietary technology to boost power efficiency at the facility.

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