Home Financial Markets Penny Stocks Ionix Technology (IINX) Stock Grew 23%. What Pushed The Stock Up?

Ionix Technology (IINX) Stock Grew 23%. What Pushed The Stock Up?

At the close of yesterday’s trading, Ionix Technology Inc (OTC: IINX) led the market up 23.13 per cent to $0.2348. During the day, 595.07K shares of Ionix Technology stock were traded, more than its average weekly volume of 146.10K shares. The IINX stock rose after news that its subsidiary had received an order for 20 million RMB worth of battery equipment.

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The purchase order in brief:


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Ionix Technology, Inc. is a firm that primarily deals as holding company in the photoelectric display industry and smart energy. In recent years, IINX has embarked upon the challenge of integrating the material and module manufacturing systems for liquid Crystal Displays into a larger production enterprise, which is Fangguan Electronics, in order to embrace the opportunities of OLED high technology.

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The company has five operating subsidiaries including:

  1. Changchun Fangguan Electronics Technology Co., Ltd.
  2. Shenzhen Baileqi Electronic Technology Co., Ltd.
  3. Lisite Science Technology (Shenzhen) Co., Ltd.
  4. Dalian Shizhe New Energy Technology Co., Ltd.
  5. Changchun Fangguan Photoelectric Display Technology Co., Ltd.

A wholly-owned subsidiary of Ionix Technology announced yesterday it will obtain at least 20 million RMB in Lithium-ion Battery equipment orders.

During the first week of this month, a total amount of more than 7 million RMB was agreed for the first batch order. The subsidiary company, Sijirun (Yixing) Technology Limited is a prominent component of Ionix’s business chain of energy industry products, which forms a closed-loop eco-system.

Sijirun is equally important for IINX business in the intelligent manufacturing and intelligent equipment industry. EVs and energy storage batteries are guaranteed high stability and consistency due to the high intelligence of the equipment.

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Finally,

Ionix Technology (IINX) laid the groundwork for future performance growth by merging and acquiring energy upstream and downstream businesses, and with a high-end smart lithium-ion battery market, Sijirun should generate a profit for IINX.

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