Jiangxi Motor to buy pottery mill prospecting rights

It is reported that Jiangxi Special Electric Motor forecasts a net distinction might grow between 80%YoY and 110%YoY in a initial 3 quarters.

In a initial half, net distinction grew 164%YoY to CNY 26.38 million in line with a forecasts. The expansion was attributed to increasing orders of derrick motors.

Jiangxi Motor sealed CNY 460 million value of contracts to supply engineering machine builder Changsha Zoomlion Heavy Industry Science and Technology Development in June. The Yichun city formed organisation also bought prospecting rights to a lithium cave in an undisclosed plcae in Jiangxi range for CNY 58 million earlier.

The cave covers 6.43 block kilometers and is estimated to have pot of 1.52 million tons of mill containing lithium.

(Sourced from yicai.com)