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The latest announcement is out from China Chengtong Development Group Limited ( (HK:0217) ).
China Chengtong Development Group Limited has announced a major transaction involving a sale and leaseback arrangement through its subsidiary, Chengtong Financial Leasing. This arrangement, which involves purchasing and leasing back assets to a lessee for three years, is significant as it exceeds 25% of the company’s applicable percentage ratio, necessitating shareholder approval. The company has already secured written approval from its controlling shareholder, negating the need for a general meeting. This strategic move is expected to impact the company’s operations by enhancing its financial leasing portfolio and strengthening its market position.
The most recent analyst rating on (HK:0217) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on China Chengtong Development Group Limited stock, see the HK:0217 Stock Forecast page.
More about China Chengtong Development Group Limited
China Chengtong Development Group Limited operates in the financial leasing industry, primarily offering sale and leaseback arrangements through its subsidiary, Chengtong Financial Leasing. The company focuses on providing financial solutions to various sectors, enhancing asset utilization and liquidity for its clients.
YTD Price Performance: 12.96%
Average Trading Volume: 2,535,982
Technical Sentiment Signal: Sell
Current Market Cap: HK$714.3M
See more data about 0217 stock on TipRanks’ Stock Analysis page.