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Shangtai Tech to Provide Guarantee to Malaysian Subsidiary for MYR31.5 Million Project

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Shijiazhuang Shangtai Technology (SHE:001301) will provide an irrevocable joint and several liability guarantee to subsidiary Shangtai Technology (Malaysia) to cover funds for a 31.5 million Malaysian ringgit project, according to a Shenzhen bourse filing on Tuesday.

The project involves the construction of a lithium-ion battery anode material plant in Malaysia with an annual production capacity of 50,000 tonnes.

FHL Construction will undertake the project's construction.

Shares of the lithium-ion battery anode material manufacturer rose nearly 2% in afternoon trading.

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