Guangdong Orient Zirconic Ind Sci & Tech (SHE:002167) directors approved investments for two projects by subsidiary Dongzconium New Material Technology, according to a Tuesday filing with the Shenzhen bourse.
Shares fell nearly 3% during afternoon trading on Wednesday.
The subsidiary will invest in a new energy battery-grade zirconium oxide project with a capacity of 60,000 tons per year and a zirconium-hafnium separation high-purity oxides project with a 12,000-ton capacity per year.
The projects have an investment budget of 737 million yuan.
Construction is set to begin in January 2026.
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