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Dongyue Group Limited ( (HK:0189) ) has shared an update.
Dongyue Group Limited announced a change in the use of proceeds from its recent share placing, initially intended to enhance production capacity for PVDF and PTFE. Due to increased market supply and lower-than-expected returns, the company will redirect unutilized funds towards increasing production of high-purity PTFE for the semiconductor industry, transforming production lines for green and intelligent operations, and initiating a pilot project for a new-type coolant. This strategic shift aims to position the company better in the high-end fluoropolymers and new-type coolant markets, potentially impacting its future market competitiveness and stakeholder interests.
The most recent analyst rating on (HK:0189) stock is a Buy with a HK$10.60 price target. To see the full list of analyst forecasts on Dongyue Group Limited stock, see the HK:0189 Stock Forecast page.
More about Dongyue Group Limited
Dongyue Group Limited operates in the fluoropolymer industry, focusing on products like PVDF and PTFE, known for their climate resistance and mechanical properties. These materials are used in various applications, including weather-resistant coatings, adhesives for lithium batteries, and photovoltaic backplanes.
Average Trading Volume: 13,391,171
Technical Sentiment Signal: Buy
Current Market Cap: HK$17.45B
See more data about 0189 stock on TipRanks’ Stock Analysis page.