Chint Electric boosts investments in renewable energy, semiconductor sectors

Zhejiang Chint Electrics [SSE:601877] has announced a series of strategic financial moves, including a $CNY 50 million investment in an industrial fund and continued progress in its share repurchase program. The primary announcement details that Zhejiang Chint New Energy Development, a wholly-owned subsidiary, will invest up to $CNY 50 million in Zhangjiagang Zhaoxi Advantage No. 2 Equity Investment Partnership (Limited Partnership), focusing on new energy and semiconductor industries. This decision was approved at the company's Tenth Board of Directors Second Meeting, with all nine attending directors voting in favor. The company highlights that this investment diversifies the firm's investment portfolio, aiming to enhance profitability and competitiveness.