Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An update from China Carbon Neutral Development Group Limited ( (HK:1372) ) is now available.
China Carbon Neutral Development Group has unwound a planned collaboration with Tus City Group to develop “zero-carbon” industrial parks and related rooftop solar, energy storage and new energy transport projects, after earlier commissioning Lushan Ecological Environmental Construction to conduct engineering survey and design work. The company cited technical constraints, lack of regulatory and property-management approvals, and changes to national photovoltaic support policies as reasons for terminating both the cooperation framework and the design contract, and said settlement with its contractor will be made on a pro-rata basis for work completed.
The board maintained that the advance payment for design and consulting under the Lushan agreement was commercially reasonable at the time and aligned with its carbon-asset strategy, as future projects were intended to leverage Green Credit’s digital carbon-management platform and tradable green certificates from solar generation. However, with subsidies removed, self-consumption ratios rising and grid-access conditions tightening, management opted to halt the initiative and focus on preserving shareholder interests while enhancing governance, compliance and financial prudence around future capital-intensive carbon-neutral projects.
The most recent analyst rating on (HK:1372) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on China Carbon Neutral Development Group Limited stock, see the HK:1372 Stock Forecast page.
More about China Carbon Neutral Development Group Limited
China Carbon Neutral Development Group Limited operates in the carbon-neutrality and green technology sector through subsidiaries such as China Carbon Green Credit Technology (Shenzhen). The group focuses on carbon-neutral digital technology, low-carbon industrial park development, and carbon asset businesses tied to renewable energy and green certificates in China.
Average Trading Volume: 2,988,164
Technical Sentiment Signal: Sell
Current Market Cap: HK$816.7M
Find detailed analytics on 1372 stock on TipRanks’ Stock Analysis page.