Mingzhu Plastic Jumps After Unveiling Expansion Plan to Join Top Battery Separator Makers
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Mingzhu Plastic's shares surged 10% after announcing a CNY3.4 billion investment to build a production base in South China, significantly increasing its lithium battery separator capacity to 4.2 billion square meters. The facility will include eight production lines for wet-process separators and seven for polyethylene pipes, aiming to enhance market share in the Guangdong-Hong Kong-Macao Greater Bay Area. The joint venture with a local investment firm will oversee the project, with Mingzhu holding a 75% stake. This expansion positions Mingzhu among the top global suppliers in the battery separator market.
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