Beijing Media Increases Stake in Beiqing Community Media

Beijing Media Corp. Ltd. Class H (HK:1000) has released an update.

Beijing Media Corp. Ltd. is increasing its stake in Beiqing Community Media from 57.95% to 74.12% through a capital reduction agreement with Hangzhou Shineng and Chongqing Huilin. This move will reduce Beiqing Community Media’s registered capital from RMB 30.03 million to RMB 23.48 million, solidifying its position as a subsidiary and consolidating its financial results into the group’s statements. This transaction is classified as both a discloseable and connected transaction under the Hong Kong Stock Exchange rules.

For further insights into HK:1000 stock, check out TipRanks’ Stock Analysis page.