Nanjing Julong shares surge 17.05% intraday after announcing 10 million RMB wholly-owned subsidiary.

Nanjing Julong (300644.SZ) surged 17.05% intraday following its announcement to establish a wholly-owned subsidiary, Nanjing Julong New Material Technology Co., Ltd., with a RMB 10 million investment in Jiangsu Province. The move aligns with the company’s strategic and operational development plans, signaling expansion in new material technology. The second news event, referencing Julong Holding Ltd. (JLHL), is unrelated to the A-share listed entity and lacks specific context. The third news item pertains to a Lithuanian news source unrelated to the stock. The significant intraday rally directly correlates with the subsidiary announcement, which reflects the company’s growth-oriented strategy, likely boosting investor confidence.