Nanjing Julong shares surge 22.95% intraday after announcing RMB 10 million investment to establish wholly-owned subsidiary.

Nanjing Julong (300644.SZ) surged 22.95% intraday following its announcement to establish a wholly-owned subsidiary, Nanjing Julong New Material Technology Co., Ltd., with a 10 million RMB investment. The move, aligned with strategic operational development, signals expansion into new material technologies, potentially enhancing long-term growth prospects. The second news event (JLHL) and third (Penkių kontinentų grupė) were unrelated to Nanjing Julong’s core operations and did not influence the stock’s performance. The sharp intraday rally directly correlates with the subsidiary announcement, reflecting investor optimism over the company’s strategic direction.