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China Glass Holdings Limited ( (HK:3300) ) has issued an update.
China Glass Holdings Limited has entered into a new three-year procurement framework agreement with Triumph Resources to secure the supply of raw and fuel materials for its glass manufacturing operations for the financial years ending 31 December 2026, 2027 and 2028, replacing an existing agreement that will expire at the end of 2025. Because Triumph Resources is an associate of a substantial shareholder, the deal is classified as a continuing connected transaction under Hong Kong Listing Rules, requiring independent shareholders’ approval at a special general meeting, with an independent board committee and financial adviser appointed and a circular to be dispatched by 20 January 2025, and there is no certainty the agreement will proceed until that approval is obtained.
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 Bermuda-incorporated glass manufacturer listed in Hong Kong, engaged in the production of glass products. The group relies on various raw and fuel materials for its manufacturing operations and maintains long-term procurement arrangements with related parties within the Triumph Group to support its glass production business.
Average Trading Volume: 7,231,278
Technical Sentiment Signal: Buy
Current Market Cap: HK$976.8M
See more insights into 3300 stock on TipRanks’ Stock Analysis page.