Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
China Glass Holdings Limited ( (HK:3300) ) just unveiled an update.
China Glass Holdings Limited has announced a default on a loan facility due to a downturn in the property-related sector, which has weakened demand for its glass products and adversely affected cash flow. The company is actively seeking professional advice and is in discussions with financial advisers and potential financiers to secure funding to address the outstanding amount of USD141.7 million. The board is exploring options to resolve, extend, or refinance the existing banking facilities and is formulating contingency plans to maintain debt servicing capabilities.
The most recent analyst rating on (HK:3300) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on China Glass Holdings Limited stock, see the HK:3300 Stock Forecast page.
More about China Glass Holdings Limited
China Glass Holdings Limited is a company incorporated in Bermuda, primarily engaged in the glass manufacturing industry. The company and its subsidiaries focus on producing glass products, particularly for the construction sector.
Average Trading Volume: 1,966,078
Technical Sentiment Signal: Sell
Current Market Cap: HK$488.4M
Find detailed analytics on 3300 stock on TipRanks’ Stock Analysis page.