SHA:688127

Lante Optics Completes Establishment of Singapore, Malaysia Subsidiaries; Shares Down 4%

Zhejiang Lante Optics (SHA:688127) completed the establishment of a wholly-owned subsidiary in Singapore and a sub-subsidiary in Malaysia, according to a Wednesday disclosure on the Shanghai bourse.The Chinese optical components manufacturer received the enterprise overseas investment notice of filing and certificate from Zhejiang Province's regulators.The company also completed the foreign exchange registration procedures with the State Administration of Foreign Exchange's Jiaxing Branch through its bank.The company's shares dropped nearly 4% during the midday trade.

Jefferies Adjusts Zhejiang Lante Optics' Price Target to 82 Yuan from 67 Yuan, Keeps at Buy