China Glass (03300) surged more than 18% in early trading. As of press release, it had risen 18.52% to HK$0.64, with a turnover of HK$1.46 million.
The Zhitong Finance App learned that China Glass (03300) surged more than 18% in early trading. As of press release, it had risen 18.52% to HK$0.64, with a turnover of HK$1.46 million.
According to the news, China Glass recently announced that Tongliao China Glass, an indirect wholly-owned subsidiary of the company, has successfully bid for land use rights in the Horqin Left Wing Houqi Industrial Park in Tongliao City, Inner Mongolia, China in a public tender. On March 13, 2024, Tongliao China and Horqin's left-wing Houqi Natural Resources Bureau signed a confirmation on the land acquisition, at a cost of RMB 507.325 million.
Tongliao China and the Horqin Left Wing Houqi Natural Resources Bureau are expected to sign a land use rights contract before March 28, 2024.
Tongliao China Glass plans to build two photovoltaic ultra-white rolled glass production lines and supporting deep processing production lines on the site. The land is located in Inner Mongolia. It is rich in solar energy resources. It is a major area for photovoltaic power generation installations, and one of China's major silicon material industry bases. Tongliao China Glass aims to take advantage of the region's geographical, resources and industrial agglomeration advantages to fully meet the needs of Inner Mongolia and surrounding markets.