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BeijingWest International ( (HK:2339) ) has provided an update.
BeijingWest Industries International Limited announced that it exceeded its annual cap for the Existing Mutual Technical Services Agreement, with transactions amounting to approximately HK$197.9 million for the year ended December 31, 2024, surpassing the original cap of HK$165.5 million. This breach of the Listing Rules necessitates additional reporting and shareholder approval measures. The company has implemented enhanced internal controls to prevent future breaches and maintains that the transactions were conducted on fair and reasonable terms, beneficial to the company and its shareholders.
More about BeijingWest International
BeijingWest Industries International Limited operates in the engineering and manufacturing sector, focusing on providing advanced development engineering services, applications engineering services, and manufacturing services. These services are primarily aimed at the automotive industry, ensuring that automotive parts meet specific customer and local market requirements.
Technical Sentiment Signal: Buy
Current Market Cap: $38.79M
For a thorough assessment of 2339 stock, go to TipRanks’ Stock Analysis page.