Nanjing Julong shares surge 14.75% premarket after announcing RMB 10 million investment in wholly-owned subsidiary for new material technology.

Nanjing Julong (300644.SZ) surged 14.75% in premarket trading following its announcement to invest RMB 10 million in establishing a wholly-owned subsidiary, Nanjing Julong New Material Technology Co., Ltd., in Nanjing, Jiangsu Province. The move aligns with the company’s strategic planning and operational development goals, signaling potential expansion in the new materials sector. The second and third news events were unrelated to the stock, with the latter referencing a Lithuanian entity and the former pertains to a different firm (JLHL). The premarket rally suggests investor optimism about the subsidiary’s prospects, which could enhance market share or diversify revenue streams. The announcement’s timing and strategic implications directly correlate with the stock’s upward trajectory, reinforcing its relevance as the primary driver of the price movement.