Asia
Suqian Unitech Faces Scrutiny Over Indium Phosphide Venture; Shares Up 10%
Suqian Unitech (SHA:603065) is facing the scrutiny of the Shanghai bourse regarding its proposed 10 million yuan joint venture to produce indium phosphide substrates.The exchange raised concerns about technical readiness, funding feasibility and a 10-month timeline to build a 120,000-wafer annual production line, according to a Wednesday filing with the Shanghai bourse.Suqian Unitech must respond within five trading days.Shares of the specialty chemical company jumped 10% in recent trade.
SHA:603065