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China High Speed Transmission Equipment Group Co ( (HK:0658) ) has shared an announcement.
China High Speed Transmission Equipment Group Co. has announced that its wholly owned subsidiary Nanjing Handa has entered into a supplemental agreement with Enkaiyi to revise key terms of a previously agreed loan assignment, after Enkaiyi failed to pay the consideration by the original deadline. Under the new terms, Enkaiyi must pay a RMB10 million down payment within 10 working days for the supplemental agreement to take effect, and the payment deadline for the remaining consideration has been extended by two years to 26 June 2027, with a 3% annual simple interest fund usage fee payable on the outstanding balance from March 2025 until full settlement. The company, having sought legal advice, concluded that renegotiating the payment schedule is a more efficient and effective route than pursuing legal proceedings in the PRC, and believes the deal improves its prospects of ultimately recovering the full consideration on normal commercial terms in the interests of the company and its shareholders.
The most recent analyst rating on (HK:0658) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on China High Speed Transmission Equipment Group Co stock, see the HK:0658 Stock Forecast page.
More about China High Speed Transmission Equipment Group Co
China High Speed Transmission Equipment Group Co., Ltd., incorporated in the Cayman Islands and listed in Hong Kong, is principally engaged in the research, design, development, manufacture and distribution of mechanical transmission equipment, with a strong focus on products used in wind power and broader industrial applications. Its wholly owned PRC subsidiary Nanjing Handa is engaged in trading activities, while counterpart Enkaiyi is an independent PRC company involved in the sales of bearings, gears, transmission parts, wind turbine components, and other mechanical and rail transit equipment.
Average Trading Volume: 1,629,458
Technical Sentiment Signal: Hold
Current Market Cap: HK$2.58B
For detailed information about 0658 stock, go to TipRanks’ Stock Analysis page.