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The latest announcement is out from China Feihe Limited ( (HK:6186) ).
China Feihe Limited announced that its wholly-owned subsidiary, Feihe HLJ, has subscribed to wealth management financial products offered by CITIC Bank, amounting to RMB400 million. This strategic move aims to utilize the company’s idle funds to enhance capital gains while maintaining low risk, aligning with the company’s core objectives of ensuring capital safety and liquidity. The subscription is expected to generate higher returns compared to typical savings or time deposits offered by commercial banks in the PRC. The company has implemented adequate internal controls to ensure this investment does not affect its working capital or operations, thereby protecting the interests of the company and its shareholders.
The most recent analyst rating on (HK:6186) stock is a Hold with a HK$4.30 price target. To see the full list of analyst forecasts on China Feihe Limited stock, see the HK:6186 Stock Forecast page.
More about China Feihe Limited
China Feihe Limited is a company incorporated in the Cayman Islands, primarily engaged in the production and sale of dairy products, raw milk, and nutritional supplements. The company’s shares are listed on the Main Board of the Stock Exchange.
Average Trading Volume: 42,602,658
Technical Sentiment Signal: Sell
Current Market Cap: HK$35.87B
See more insights into 6186 stock on TipRanks’ Stock Analysis page.