Shanghai Peak Cement (000672.SZ) plans to increase its investment in its holding subsidiary Ningbo Peak and acquire assets externally.

Zhtng cijng APP news, Shngfng shun (000672.SZ) released an announcement to implement strategic development plans and production needs, fully leverage the advantages of clinker production capacity, promote the transformation of surplus clinker into cement grinding, actively explore the market in the East China region, promote local economic development. The company's wholly-owned subsidiary Zhejiang Shangfeng Building Materials Co., Ltd. (referred to as "Shangfeng Building Materials") and joint venture partner Ningbo Economic and Technological Development Zone Kaiyuan Development Investment Co., Ltd. (referred to as "Ningbo Kaiyuan") jointly invested to establish Ningbo Shangfeng Cement Co., Ltd. (referred to as "Ningbo Shangfeng") in October 2024 with a registered capital of 20 million yuan, of which Shangfeng Building Materials and Ningbo Kaiyuan hold 51% and 49% equity respectively. It is planned to lease the 5,000-ton multi-purpose wharf and some supporting facilities of Yongxin Harbor Development Co., Ltd. in Ningbo Daxie Development Zone, and use the vacant land behind the wharf to relocate and rebuild a cement grinding production line with a designed annual output of 1.2 million tons. Currently, the pre-construction administrative approval work of the Ningbo Shangfeng project has been basically completed, and the 5,000-ton multi-purpose wharf and some supporting facilities of Yongxin Harbor have been leased.