Shangtai Technology (001301.SZ) plans to establish a subsidiary in Hong Kong, China to be responsible for overseas procurement of coke raw materials.

Capitalmarkets APP news, Shangtai Technology (001301.SZ) announced that the company plans to establish a wholly-owned subsidiary in Hong Kong, China with its own funds, responsible for exploring, purchasing, and trading overseas coal-based raw material suppliers, utilizing Hong Kong's location advantages as an international trade center, logistics center, and financial center to explore more varieties of coal-based raw materials. The subsidiary is tentatively named Shangtai Technology (Hong Kong) Limited, with a registered capital of 50 million Hong Kong dollars.