Huadi International Rises Following Deal With China Huanqiu

(RTTNews) - Shares of industrial stainless steel seamless pipes and tubes maker Huadi International Group Co., Ltd. (HUDI), are rising more than 9% Thursday morning after the company announced partnership with China Huanqiu Contracting & Engineering Co., Ltd., to supply Stainless Steel Seamless Pipes and tubes.

HUDI has been selected as the Huanqiu's, a construction contractor of China National Petroleum Corporation, first-tier supplier of stainless steel seamless pipes and tubes.

"This Agreement has earned us recognition as a large-scale stainless steel seamless pipes and tubes projects supplier. We are extremely excited about this opportunity at the beginning of 2023 and will keep the momentum going," said Di Wang, Chairman of the company.

HUDI is at $6.18 currently. It has traded in the range of $4.50-$192.88 in the last 1 year.