Shanghai Haohai Biological Technology (HKG:6826, SHA:688366) said Chairman Hou Yongtai resigned effective Friday, due to age, according to a same-day filing with the Hong Kong bourse.
Hou will continue to hold positions in certain subsidiaries and will be appointed chief scientific advisor of the company.
The company named General Manager Wu Jianying as chairman, effective the same day.
Xiamen Tungsten (SHA:600549) 65.2%-owned subsidiary Fujian Jinlong Rare Earth plans to apply for a public offering on the Beijing Stock Exchange.Fujian Jinlong Rare Earth, already trading on the NEEQ Innovation Level, aims to issue up to 319.7 million new shares to raise net proceeds of about 700 million yuan, according to a Sunday filing with the Shanghai bourse.Proceeds will fund a permanent magnet production line upgrade in Changting and Phase II of a 5,000-ton annual capacity neodymium-iron-boron magnet project.Shares of the tungsten carbide manufacturer were down 2% in recent trade.
Indonesia has initiated the rollout of its plan to centralize exports of key commodities, requiring coal, palm oil and ferroalloy producers to submit export documents to newly formed state-owned firm Danantara Sumberdaya Indonesia from June 1, Bloomberg News reported Sunday.The company, owned by sovereign wealth fund Danantara, will take over some export functions as early as September and no later than Jan. 1, Coordinating Economic Affairs Minister Airlangga Harriet said on Sunday. The firm is still setting up its governance structure and hiring staff, according to the report.The plan has created uncertainty among natural resource producers, with many saying they do not yet have enough details to assess its impact. It has also raised concerns about possible supply disruptions from the world's top exporter of coal and palm oil. State-owned miner (IDX:ANTM), and Vale Indonesia (IDX:INCO) said the policy is expected to have little or no impact on their businesses, the news outlet 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.)
Sea Ltd. has established a dedicated team to look out for new AI investments as part of the company's strategy to diversify beyond e-commerce, Bloomberg News reported on Friday, citing people familiar with the matter.The team will report to the company's executive, Endong Zhang, the report said, citing the people. It will focus on potential investments in startups from across the globe, 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.)