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Beijing Xunzhong Communication Technology Co., Ltd. Class H ( (HK:2597) ) has issued an update.
Beijing Xunzhong Communication Technology has disclosed an update on ongoing litigation involving Beijing Yakang and Beijing Yunxi that has led to an expansion of court-ordered freezes on its bank accounts. Following property preservation applications filed by Beijing Yakang, frozen funds in the company’s basic bank account increased to about RMB11.81 million, and approximately RMB214,600 in a general bank account was also frozen after the case was transferred between Beijing courts. The company’s board maintains that, based on current information, these freezes are not expected to have a material impact on its business, financial position or operations, and management plans to actively seek the lifting of the restrictions while cautioning shareholders and potential investors to remain prudent when dealing in its securities.
More about Beijing Xunzhong Communication Technology Co., Ltd. Class H
Beijing Xunzhong Communication Technology Co., Ltd. is a PRC-incorporated joint stock company listed in Hong Kong, operating in the communications technology sector. The company focuses on communication-related products and services, serving clients in mainland China and leveraging its Hong Kong listing to access international capital markets.
Average Trading Volume: 55,833
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.74B
For detailed information about 2597 stock, go to TipRanks’ Stock Analysis page.