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Lincang Xinyuan Germanium's Unit Proposes Application of 217 Million Yuan Loan

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Yunnan Lincang Xinyuan Germanium Industry's (SHE:002428) unit, Hubei Xinyao Semiconductor, proposed to apply for a fixed asset loan of 217 million yuan for the construction of a high-quality gallium arsenide wafer plant, according to a Shenzhen bourse filing on Thursday.

The loan, which will have a term of 10 years, will be applied at the China CITIC Bank's (HKG:0998, SHA:601998) Huanggang branch. The loan's interest rate will be between 2.95% and 3.3%.

The board of directors approved the plan.

The Chinese germanium miner's shares slipped 1% during the morning trade.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

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Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

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