Julong shares surge 15.41% after-hours after announcing 10 million RMB subsidiary investment.

Nanjing Julong (300644.SZ) surged 15.41% in after-hours trading following its announcement to establish a wholly-owned subsidiary, Nanjing Julong New Material Technology Co., Ltd., with a RMB 10 million investment. The move, aligned with the company’s strategic planning and operational development needs, signals expansion into new material technology, a sector with growth potential. The second news item, referencing a Lithuanian entity’s participation in a banking forum, is unrelated to Nanjing Julong’s operations. The significant post-market rally directly reflects investor optimism over the subsidiary’s potential to enhance the company’s market position and revenue streams.