(Yicai) Feb. 19 -- Shares of Pret Composites, a Chinese supplier of composite materials that has moved into energy storage batteries, rose after the company said it will invest CNY750 million (USD103 million) to build a lithium battery factory in Malaysia.

Pret [SHE: 002324] ended 3.2 percent higher at CNY9.92 (USD1.36) a share today. The broader Shenzhen market added 1.5 percent.

Pret unit Highstar Battery Manufacturing will build the plant in Johor state, its Shanghai-based parent company announced late yesterday. Highstar Battery makes energy storage battery products and counts Stanley Black & Decker and Robert Bosch among its major clients.

The new factory will produce 2.5 gigawatt-hours of cylindrical lithium batteries a year, aiming to meet global demand for high-performance cells from makers of electric tools and smart home appliances, the company said.

Pret expects the plant to expand its global market share, help it deal with international trade barriers, and increase its revenue from the new energy business segment.

As of the end of last June, Highstar Battery was able to turn out 2.83 GWh of cylindrical ternary lithium batteries and 1.19 GWh of square lithium iron phosphate batteries a year, according to its latest financial report. It can also make 1.3 GWh of sodium-ion and lithium-ion batteries annually.

Editor: Martin Kadiev