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GCL System to Dispose of TCL Zhonghuan's Subsidiary for 502 Million Yuan; Shares Up 4%

GCL System Integration Technology (SHE:002506), through Xiamen Yongxin Sunshine Investment Partnership (Limited Partnership), will dispose stake in Zhonghuan Leading Semiconductor Technology for a consideration of 501.5 million yuan, according to a Shenzhen bourse filing on Saturday.The power company's shares jumped less than 4% during Monday's afternoon trade.The stake, which represents 73,384,649 shares, will be sold to Nanjing Yida Huiling Venture Capital Partnership (Limited Partnership).Zhonghuan Leading Semiconductor is a subsidiary of TCL Zhonghuan Renewable Energy Technology (SHE:002129).

Asia112d ago

Beijing Shougang Q1 Profit Down 47%, Revenue Slips 2%

Beijing Shougang (SHE:000959) posted first-quarter attributable net profit of 174.1 million yuan, down 47% from 329.6 million yuan the previous year.Earnings per share declined to 0.0226 yuan from 0.0425 yuan, according to a filing with the Shenzhen bourse.Operating revenue slipped 5.7% year over year to 25.1 billion yuan from 26.6 billion yuan.Shares of the steel products maker were down 2% in recent trade.

SHE:000959

Asia112d ago

Zip's Fiscal Q3 Showed 'Very Good Control' Over Unit Economics, Jefferies Says

Zip's (ASX:ZIP) fiscal third-quarter results confirmed that the company has "very good control" over unit economics, and softer consumer sentiment could translate into more usage of its services given its non-discretionary customer base, Jefferies said in an April 17 note.The equity research firm said Zip's US bad debts likely peaked at 1.9% of total transaction value in the fiscal third quarter, while its revenue margin recovered to 8.4%, which was "a solid result" given the mix shift toward the US.The company also saw higher engagement in the US, as average spend per customer increased more than 32% year over year and average transactions per customer gained roughly 22%, indicating that repeat usage is gaining traction, according to the note."Groceries and utilities are significant contributors to US growth, and these nondiscretionary spend categories should be less susceptible to macro headwinds," Jefferies said.The equity research firm upgraded its fiscal 2026 cash earnings before taxes, depreciation, and amortization forecast for Zip by 5%, but cut it by 11% for fiscal 2027 due to currency headwinds and a lower revenue margin in Australia and New Zealand.Jefferies maintained a buy rating on the company and lowered its price target to AU$3.80 from AU$4.20.Zip's shares surged almost 9% in recent Monday trade.

ASX:ZIP

Asia112d ago

Beijing Shougang 2025 Profit Up 108%, Revenue Slips 5%

Beijing Shougang (SHE:000959) posted 2025 attributable net profit of 995.6 million yuan, up 108% from 479.4 million yuan the previous year.Earnings per share rose to 0.1284 yuan from 0.0618 yuan, according to a filing with the Shenzhen bourse.Operating revenue slipped 5.1% year over year to 102.9 billion yuan from 108.5billion yuan.Shares of the steel products maker were down 2% in recent trade.

SHE:000959

Asia112d ago

JSW Steel to Form 50:50 JV with POSCO for Odisha Steel Plant

JSW Steel (NSE:JSWSTEEL, BOM:500228) approved a share subscription and joint venture agreement with South Korea's POSCO Group, under which its wholly owned subsidiary Saffron Resources will become a 50:50 joint venture, according to a Friday filing on Indian bourses.Shares of the company rose over 1% in Monday's trade.The proposed joint venture plans to set up a greenfield 6 million tons per annum (MTPA) integrated steel plant in Odisha, India. The plant is expected to be built on about 887 acres of land held by Saffron, the filing said.POSCO Group will subscribe to Saffron shares for about 5.09 billion Indian rupees, subject to adjustments, according to the filing. The deal is expected to complete by Dec. 31.

BOM:500228NSE:JSWSTEEL

Asia112d ago

MN Unit Bags MYR276 Million Data Center Infrastructure Project; Shares Rise 5%

MN (KLSE:MNHLDG) unit MN Utilities Engineering has accepted a purchase order worth 275.9 million ringgit for a data center infrastructure project in Malaysia, according to a Friday's Malaysian bourse filing.Shares gained over 5% in Monday's midday trade.The contract was awarded by a company providing hosting and data processing services. It covers the design, supply, installation, testing, and commissioning of a 275 kilovolt consumer landing station.The project is expected to be completed by June 30, 2027, with final scope to be divided into two phases, the filing said.

KLSE:MNHLDG

Asia112d ago

New Zealand Shares End Slightly Higher Amid Rising Middle East Tensions; Channel Infrastructure Secures Deal to Expand Diesel Storage at Marsden Point

New Zealand shares ended marginally higher on Monday after tensions rose in the Middle East, as the end of the two-week US-Iran ceasefire draws near.The S&P/NZX 50 Index edged up 0.1% or 9.8 points to close at 12,915.45.Tensions rose in the Middle East as the US seized an Iranian cargo ship and Iran's top military command vowed to retaliate. US President Donald Trump said he was sending envoys for talks in Pakistan. However, Iran rejected new peace talks with the US, its state news agency reported.Trump said he would launch new strikes on Iran if it didn't agree to his terms.In domestic news, New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February, Stats NZ data showed. Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion..New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said.In corporate news, Channel Infrastructure (NZE:CHI, ASX:CHI) confirmed an agreement with the New Zealand Government to add 93 million liters of diesel storage at its Marsden Point Energy Precinct, equivalent to around nine more days of national diesel demand.Genesis Energy (NZE:GNE, ASX:GNE) reached a final investment decision on the second stage of its battery energy storage system program at Huntly Power Station on New Zealand's North Island, with an estimated project cost of about NZ$106 million.Lastly, Fletcher Building (NZE:FBU, ASX:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction.

^NZ50ASX:CHIASX:FBUASX:GNENZE:CHINZE:FBUNZE:GNE

Asia112d ago

Zhenyuan's Deputy General Manager Placed in Detention

Zhejiang Zhenyuan's (SHE:000705) deputy general manager, Wei Min, was placed in detention for investigation, according to a Shenzhen bourse filing on Saturday.The pharmaceutical wholesale company did not disclose the reason for the detention but said its production and operations remain unaffected over the matter.The company's shares fell 2% during the afternoon trade.

SHE:000705

Asia112d ago

Salubris Pharmaceuticals' Subsidiary Presents Positive Effects of JK06 At American Association for Cancer Research

Shenzhen Salubris Pharmaceuticals' (SHE:002294) subsidiary, Salubris Biotherapeutics, presented the positive effects of the JK06 at the American Association for Cancer Research, according to a Shenzhen bourse filing on Monday.The drug was tested for metastatic tumors, including non-small cell lung cancer and breast cancer, in phases 1/2 clinical trials.The drug showed good safety and efficacy in patients during the trials.The pharmaceutical company's shares dropped 4% during the afternoon trade.

SHE:002294

Asia112d ago

Magma Prices Private Placement Shares

Magma (KLSE:MAGMA) fixed the issue price of its private placement at 0.265 ringgit per share, according to a Friday Malaysian bourse filing.Shares gained about 2% in Monday's late afternoon trade.The company had proposed a private placement of up to 10% of its total shares to third-party investors.

KLSE:MAGMA

Asia112d ago

Kanghong Pharmaceutical's Unit Secures US FDA Nod for Heart Disease Gene Therapy

Chengdu Kanghong Pharmaceutical's (SHE:002773) unit, Chengdu Hongji Biotechnology, said the U.S. Food and Drug Administration authorized the clinical trials of KHN921 injection in the U.S., according to a Shenzhen bourse filing on Monday.The drug will be tested as a treatment for hypertrophic cardiomyopathy.The pharmaceutical company's shares rose 2% during the afternoon trade.

SHE:002773

Asia112d ago

Amplitude Energy's AGL Gas Sales Deal Supports Production Visibility, Euroz Hartleys Says

Amplitude Energy (ASX:AEL) strengthened its long-term production outlook after securing a foundation gas sales agreement (GSA) with AGL Energy (ASX:AGL) that lifts contracted volumes and supports valuation upside if drilling success continues, Euroz Hartleys said in an April 17 note.The company will supply 20 petajoules of gas, over four years from its East Coast Supply Project (ECSP), with deliveries starting in the second half of 2028 and pricing linked to oil and market conditions at the time of delivery.Euroz Hartleys estimates about 80% of expected production is now contracted, assuming 60 terajoules per day of gross output and completion of the remaining ECSP drilling program, including Annie field development and successful appraisal of the high-probability Juliet and Nestor prospects.The equity research firm noted that the AGL contract differs from the company's earlier Energy Australia agreement, as it is oil-linked and could deliver higher realized prices depending on oil markets over the contract term.The firm said that multiple foundation GSAs signal strong confidence in the company's drilling program and resource base, and it remains positive on valuation.Euroz Hartleys kept a buy rating on Amplitude Energy with an under review price target of AU$3.25.Amplitude Energy's shares plunged 5% in recent Monday trade, while AGL Energy's shares shed 2%.

ASX:AELASX:AGL

Asia112d ago

Centurion Buys Worker Accommodation Business in Australia

Centurion (SGX:OU8) through Centurion Overseas Investments, set up a new subsidiary in Australia named Centurion Karratha (King Way), according to a Monday filing with the Singapore Exchange.Centurion Australia Investments subscribed to all of the units in the Karratha Unit Trust.Concurrently, Centurion Karratha signed deals to acquire the Velocity Village workforce accommodation business and the Velocity Motel and Bistro for AU$45 million.The target businesses operate in Karratha, a city in the Pilbara region of Western Australia.The acquisition is part of the company's strategy to expand its worker accommodation operations.

SGX:OU8

Asia112d ago

Aofei Data Tech's 2025 Profit Rises 7%, Revenue Jumps 16%; Shares Down 3%

Guangdong Aofei Data Technology's (SHE:300738) net profit attributable to shareholders in 2025 rose 6.7% to 132.3 million yuan from 124.1 million yuan a year earlier, according to a Shenzhen bourse filing on Saturday.The data services provider's shares dropped less than 3% during Monday's afternoon trade.Earnings per share increased 6.1% year on year to 0.14 yuan from 0.13 yuan.Operating revenue climbed 16% to 2.52 billion yuan from 2.16 billion yuan in the preceding year.

SHE:300738

Asia112d ago

Aoxin Q & M Dental Signs MOU to Acquire Dental Group in Southern China

Aoxin Q & M Dental Group (SGX:1D4) signed a non-binding memorandum of understanding to acquire another dental group in Southern China for 376 million yuan, according to a Monday filing with the Singapore Exchange.The acquisition is part of the company's strategy to expand its presence in China.This follows the dental services company signing an MOU in March to acquire a dental services company based in Central China for 150 million yuan.Upon completion of these two acquisition, Aoxin Q & M Dental Group will have a combined network of around 45 clinics and 140 dental professionals.Both transactions are subject to due diligence and execution of definitive agreements, the filing added.

SGX:1D4

Asia112d ago

Jilin Aodong Pharmaceutical's Attributable Profit Jumps 54% in 2025

Jilin Aodong Pharmaceutical's (SHE:000623) attributable profit rose 54% to 2.40 billion yuan in 2025 from 1.55 billion yuan in 2024, according to a Saturday filing with the Shenzhen bourse.Earnings per share at the Chinese drug company increased 44% to 2.0416 yuan from 1.3179 yuan in the previous year.Operating income declined 11% year over year to 2.34 billion yuan from 2.61 billion yuan.Shares decreased 1% during the midday break on Monday.

SHE:000623

Asia113d ago

Xuanzhu Biopharm Cancer Drug Found to Benefit Patients in Study

Sihuan Pharmaceutical Holdings Group (HKG:0460) said a drug developed by its non wholly-owned subsidiary Xuanzhu Biopharmaceutical (HKG:2575) was found to benefit patients with lung cancer in a late-stage study, according to a Hong Kong bourse filing Monday.Results from the phase 3 clinical trial showed that dirozalkib demonstrated "statistically and clinically significant efficacy advantages" in the first-line treatment of ALK-positive advanced non-small cell lung cancer.In the modified intention-to-treat population, the drug was found to have achieved a median progression-free survival of 31.3 months compared with 12.9 months in the control group.The drug's objective response rate stood at 88.5% with a median duration of response of 32.10 months and a disease control rate of 95.4%.The firm presented the trial results at the 2026 American Association for Cancer Research annual meeting.

HKG:0460HKG:2575

Asia113d ago

Sterling and Wilson Emerges Lowest Bidder For Order Worth INR34.9 Billion; Shares Jump 12%

Sterling and Wilson Renewable Energy (NSE:SWSOLAR, BOM:542760) has emerged as the lowest bidder for an order worth 34.9 billion Indian rupees through a tender floated by Coal India (NSE:COALINDIA, BOM:533278), according to a Monday filing to the Indian stock exchanges.The contract is for a turnkey engineering, procurement, and construction (EPC) package for the development of a 875 MW (AC) grid-connected solar PV project in Bikaner in Rajasthan, India.The company also bagged an order for a 50 MW AC project in Maharashtra, India, from an Indian private independent power producer.With these new order wins, the total value of EPC order inflow in the financial year 2026 has crossed 100.6 billion rupees.The company's shares were up nearly 12% in recent trade.

BOM:533278BOM:542760NSE:COALINDIANSE:SWSOLAR

Asia113d ago

Krishival Foods Deploys Over 15,000 Deep Freezers Across Retail Network for Ice Cream Business

Fast-moving consumer goods company Krishival Foods (NSE:KRISHIVAL, BOM:544416), which sells premium nuts, dried fruits, and ice cream, has deployed over 15,000 deep freezers across its retail network, according to a Monday filing to the Indian stock exchanges.This strengthens the company's cold chain infrastructure and last-mile distribution capabilities for its ice cream brand 'Melt N Mellow'.The company's deep freezer network has increased sharply from 3,732 units at the beginning of the year to 15,490 units as of March 31, 2026.The expanded freezer network is expected to help improve the company's product visibility, consistent quality, and increased retail throughput.The company's shares were up nearly 1% in recent trade.

BOM:544416NSE:KRISHIVAL

Asia113d ago

Shinfox Energy Buys 50% Stake in Zhongwei Energy for NT$800 Million; Shares Rally 10%

Shinfox Energy (TPE:6806) acquired a 50% equity stake in Zhongwei Energy for NT$800 million, according to a Friday Taiwan Exchange filing.Shares jumped about 10% in Monday's afternoon trade.Under the deal, the company purchased 80 million shares from Cheng Uei Precision Industry, the group's ultimate parent company.The deal aims to optimize resource allocation and improve working capital, it said.

TPE:6806

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Asia112d ago

New Zealand Shares End Slightly Higher Amid Rising Middle East Tensions; Channel Infrastructure Secures Deal to Expand Diesel Storage at Marsden Point

^NZ50ASX:CHIASX:FBUASX:GNENZE:CHINZE:FBUNZE:GNE