Changes in Hong Kong stocks | Times Electric (03898) rose more than 5%. Subsidiaries plan to invest in the establishment of joint ventures with Beijing Huairou Laboratory and others

The Zhitong Finance App learned that Times Electric (03898) rose by more than 5%. As of press release, it had risen 5.35% to HK$35.46, with a turnover of HK$133 million.

According to the news, on July 31, Times Electric announced that in order to deepen semiconductor IGCT technology product development and industry cooperation, further enhance the core competitiveness of the semiconductor industry and expand the product spectrum and application fields, the company's subsidiary Zhuzhou CRRC Times Semiconductor Co., Ltd. and Beijing Huairou Laboratory and other companies jointly invested about 287 million yuan to establish Beijing CRRC Times Huaishi Semiconductor Co., Ltd. (tentative name, subject to the name registered by the market supervision and administration department, hereinafter referred to as the “joint venture”), of which the company's subsidiary Zhuzhou CRRC Times Semiconductor Co., Ltd. invested about 192 million yuan, accounting for about 192 million yuan 67% of the registered capital of the joint venture, which is included in the scope of Times Semiconductor's consolidated financial statements.