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China High Speed Transmission Equipment Group Co ( (HK:0658) ) has issued an update.
China High Speed Transmission Equipment Group Co., Ltd. has initiated legal proceedings against a group of companies and individuals, including Fullshare Holdings Limited and its chairman, Mr. Ji Changqun, for alleged involvement in a fraudulent scheme to misappropriate approximately RMB6.64 billion from the company’s subsidiaries. The legal action, filed in the High Court of Hong Kong, aims to recover the misappropriated funds and protect the company’s interests, highlighting the company’s commitment to safeguarding its assets and maintaining its market integrity.
More about China High Speed Transmission Equipment Group Co
China High Speed Transmission Equipment Group Co., Ltd. operates in the transmission equipment industry, focusing on the production and distribution of high-speed transmission gearboxes and related components. The company serves various sectors, including wind power and industrial machinery, positioning itself as a key player in the high-speed transmission market.
YTD Price Performance: 7.55%
Technical Sentiment Signal: Strong Buy
Current Market Cap: $187.1M
See more data about 0658 stock on TipRanks’ Stock Analysis page.