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An update from Add New Energy Investment Holdings Group Ltd. ( (HK:2623) ) is now available.
Add New Energy Investment Holdings Group Limited has provided supplemental details on a previously announced partnership formed by its subsidiary Shenzhen Xinlong with Jiangxi Xintongying and Beijing Shiji to invest in mining businesses. The partnership, originally of indefinite duration, has now been set to a 20-year term, adjustable by unanimous partner approval.
The company also clarified the remuneration structure for the executive (general) partner, who will receive an annual fee equal to 0.5% of the partnership’s paid-up registered capital plus a 10% share of distributable profits if partner returns reach at least 8%. The board views this pay arrangement, and the ability of partners holding two-thirds of interests to remove the executive partner for poor performance, as aligned with industry norms and appropriate to the executive partner’s management role and liability exposure.
More about Add New Energy Investment Holdings Group Ltd.
Add New Energy Investment Holdings Group Limited is a Cayman Islands-incorporated company listed in Hong Kong that invests through subsidiaries such as Shenzhen Xinlong. The group is expanding its presence in the mining sector by forming investment partnerships focused on mining-related businesses, aiming to leverage specialist partners for project sourcing and operational management.
Average Trading Volume: 2,900,050
Technical Sentiment Signal: Buy
Current Market Cap: HK$3.26B
For a thorough assessment of 2623 stock, go to TipRanks’ Stock Analysis page.