FINWIRES · TerminalLIVE
FINWIRES

BYD Says 'No Justification' for US Military Label; Hong Kong Shares Fall 3%

By

BYD (SHE:002594, HKG:1211) said there is "no justification" for its inclusion in the U.S. Department of Defense's list of Chinese military companies.

The carmaker is "neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base," according to a Tuesday filing with the Hong Kong bourse.

BYD said its inclusion in the list won't affect its normal business operations.

Shares of the company were down 3% in Hong Kong, while its Shenzhen-listed shares fell nearly 2%.

Related Articles

Asia

Cosmo Chemical Shares Rise 6% on KRW15.5 Billion EcoPro Supply Deal

Cosmo Chemical (KRX:005420) secured a supply contract for cobalt sulfate, a secondary battery cathode material, from EcoPro (KOSDAQ:086520) subsidiary EcoPro EM, according to a Tuesday Korea Exchange filing.The contract, worth 15.47 billion won, is valid till Dec. 31, 2031.Shares of Cosmo Chemical rose nearly 6% in recent trade.

$KOSDAQ:086520$KRX:005420
Asia

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

$BOM:500300$NSE:GRASIM
Asia

SEC Wins KRW4.2 Billion Equipment Supply Order from Hanwha Aerospace

South Korean tech and inspection company SEC (KOSDAQ:081180) won an order from Hanwha Aerospace (KRX:012450) to supply the latter with non-destructive testing equipment, according to a Tuesday filing with the Korea Exchange.The contract, worth 4.2 billion won, is valid till Dec. 31, 2027.Shares of Hanwha Aerospace rose nearly 1% in recent trade.

$KOSDAQ:081180$KRX:012450