CNSIG Inner Mongolia Chemical Industry (SHA:600328), through subsidiary CNSIG Alkali Industry, plans to develop a natural soda ash mineral resource for 25.3 billion yuan, according to a Shanghai bourse filing on Friday.
The mineral resource will have a production capacity of 5 million ton per year.
The Chinese chemical industry company will start the 24-month construction on June 3.
Allcargo Logistics' (NSE:ALLCARGO, BOM:532749) consolidated net profit fell to 200 million Indian rupees in the fiscal fourth quarter ended March 31 from 250 million rupees a year ago, according to a Thursday filing to the Indian stock exchanges by the logistics company.The company's shares were down nearly 2% in Friday's trade.Earnings per share contracted to 0.13 rupees compared with the year-ago figure of 0.17 rupees.Revenue from operations in fiscal Q4 inched up to 5.14 billion rupees from 5.13 billion rupees a year earlier.
Suzhou GYZ Electronic Technology (SHA:688260) appointed Yan Rongkun as chief financial officer, succeeding Chen Yan.Yan has been serving as head of the company's finance department since July 2021, according to a filing with the Shanghai bourse.Shares of the precision electronic components maker closed 4% lower Friday.
Mizuho Financial (TYO:8411) will reduce its stake in credit card issuer Orient Corp (TYO:8585) to about 33.8% through the sale of a 15% holding, marking a partial exit following pressure from an activist investor seeking clearer direction on the investment, Bloomberg reported Friday.The bank will remain a major shareholder after the transaction, down from a position of more than 48% previously, according to the report.Activist investor Strategic Capital, which holds nearly 12% of Orient Corp, has pushed Mizuho to either deepen control through full ownership or fully unwind its stake, arguing the current arrangement raises governance concerns and weighs on shareholder value, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)