Sichuan Guoguang Agrochemical (SHE:002749) will invest 10 million yuan to establish Shuangfeng Agricultural Materials, a wholly owned sales subsidiary, according to a Thursday filing with the Shenzhen bourse.
The new company will focus on pesticide wholesale and retail, as well as fertilizers, agricultural films and technical services, the filing said.
Shares of the agrochemical company were down 1% in recent trade.