- Sunrise New Energy Co Ltd (NASDAQ:EPOW) said its joint venture, Sunrise (Guizhou) New Energy Material Co Ltd, has received a line of credit of RMB190 million ($26 million).
- The line of credit was extended by a syndicate led by Bank of Guizhou.
- The credit facility signifies strong local government support for the company’s graphite anode manufacturing facility.
- The line of credit will give Sunrise the working capital needed to ramp up production further to keep up with growing demand.
- “This line of credit came at the opportune time as we are in the final stage of negotiations with several top EV battery companies for very large long-term purchase orders of our graphite anode,” said chairman Haiping Hu.
- Price Action: EPOW shares are trading higher by 13.14% at $3.96 on the last check Tuesday.
- Photo Via Company
Stodgy Tax Services IPO Looks Like What U.S. Investors Want from China Now
Key Takeaways:
Lichen China has filed for an IPO to raise about $25 million, positioning itself as a potential consolidator in China’s vast, but highly fragmented, tax services market
Company points out it should be able to avoid many of the recent controversies now dogging U.S.-listed Chinese stocks
By Doug Young
