The Zhitong Finance App learned that Junda shares (02865) fell nearly 6% in early trading. As of press release, it decreased by 5.82% to HK$12.63, with a turnover of HK$39.275,600.

According to the news, Junda Co., Ltd. issued an announcement deciding to terminate the 5GW high-efficiency battery production base project in Oman. The announcement said that since the project was established, the external business environment and project implementation conditions have changed significantly. International trade frictions have intensified, geopolitical uncertainty in the Middle East has increased, and changes in the PV technology export policy have taken place. After careful research by the company, it was decided to stop implementing the Oman project.

Regarding the capital raised by H shares of HK$963 million, the company stated that it will use it instead for photovoltaic cell product research and development, technology upgrades and production line transformation, strategic procurement of raw materials, and supplementary working capital. The company stated that terminating the project was a prudent decision based on changes in the external environment and would not have a significant adverse impact on existing production and operation activities.

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