Julong shares surge 24.26% premarket after announcing RMB 10 million Nanjing subsidiary establishment.

Julong (300644.SZ) surged 24.26% in premarket 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, part of the company’s strategic planning and operational development, signals expansion into new material technologies, potentially enhancing long-term growth prospects. The other cited news items—a generic listing update for JLHL (JLHL) and unrelated regional banking forum participation—lack direct relevance to the stock’s movement. The premarket rally aligns with the bullish implication of the subsidiary’s establishment, reflecting investor optimism over the company’s strategic direction.