JatEnergy has reincarnated itself again — this time as a bricks-and-mortar retailer in China.

The company is opening a maternity and children store in a shopping mall owned by its director Xipeng Li, in Zhengzhou, the capital of Henan province.

The stock (ASX:JAT) opened up 11 per cent at 14.5c this morning.

Six months ago the shares were fetching 2c — and have traded as high as 29c in recent months.

Jatenergy joined the infant formula exporter crew in December, propelling its shares into the stratosphere.

It listed in 2008 as a biofuel business, before shifting into coal mining, manganese recovery, and finally into selling infant formula, wine and healthcare products in China by 2015.

The shop will be in the mall’s ‘kid city’, which is yet to open but expected to be ready in “the next few months”.

The mall is owned by Henan Sheng Rung Holding Group — which is owned by Mr Li.

JatEnergy has secured a sweetheart deal where it doesn’t have to pay rent for the first three years. It says the only cost is the store fit-out and no other indirect benefits will be paid or otherwise to any of their related parties.

It plans to sell a range of products for babies, children and mothers.

If it works, they’ll be allowed to expand into other malls owned by Mr Li.

Jatenergy shares (ASX:JAT) over the past year.
Jatenergy shares (ASX:JAT) over the past year.

JatEnergy’s shares have been propelled forward by the infant formula export theme, which has sent shares in a range of companies from Bellamy’s (ASX:BAL) to Bub’s (ASX:BUB) rocketing.

JatEnergy has been contacted for comment.