Ningxia Yinxing Energy Shares Rise in Shenzhen on Turbine Gearbox Venture
Ningxia Yinxing Energy Co.’s shares rose the most in 10 weeks on the Shenzhen Stock Exchange after it released a plan to set up a joint venture to produce gearboxes for wind turbines.
Yinxing Energy jumped by the daily limit of 10 percent, the biggest increase since Sep. 17, to 16.27 yuan.
Yinxing, together with two Japanese companies including Nomura Trading Co. and Ishibashi Gihan, and another Chinese equipment maker, will invest 50 million yuan in the joint enterprise, Yinxing said in a statement to the Shenzhen Stock Exchange.
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