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China Harmony Auto Holding Limited ( (HK:3836) ) just unveiled an update.
China Harmony Auto Holding Limited has issued a supplemental announcement regarding its 2024 Annual Report, highlighting key issues related to its Share Option Scheme and financial dealings with the Independent Aftersales Company (IAC). The company reported an expected credit loss of approximately RMB139.6 million due to IAC’s financial struggles, exacerbated by intense competition in the new energy vehicle market. Despite efforts to optimize operations, IAC’s financial position deteriorated, leading to ongoing discussions for settlement solutions. This situation reflects the challenging market conditions and may impact stakeholders’ perceptions of the company’s financial stability.
The most recent analyst rating on (HK:3836) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on China Harmony Auto Holding Limited stock, see the HK:3836 Stock Forecast page.
More about China Harmony Auto Holding Limited
China Harmony Auto Holding Limited is a company incorporated in the Cayman Islands, primarily operating in the automotive industry. It focuses on providing automotive sales and services, with a particular emphasis on the new energy vehicle market in mainland China.
Average Trading Volume: 5,703,214
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.79B
See more insights into 3836 stock on TipRanks’ Stock Analysis page.