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China LNG Group ( (HK:0931) ) just unveiled an update.
China HK Power Smart Energy Group Limited announced that its controlling shareholder, Dr. Kan Che Kin, has provided a guarantee using 328,634,193 ordinary shares, approximately 4.92% of the company’s issued shares, to Nantong Wenfeng Great World E-commerce Co., Ltd. This guarantee facilitates the acquisition of a 39% equity stake in Zhanjiang Huanfeng Energy Technology Co., Ltd., a subsidiary of Oasetech Energy Technology Wuxi Co. Ltd., for RMB50 million, including a repurchase clause. The move is part of a strategic investment to strengthen the company’s position in the energy technology market, with an expectation for the shares to be released by December 2032 upon fulfilling repurchase terms.
More about China LNG Group
China HK Power Smart Energy Group Limited operates in the energy sector, focusing on energy technology solutions and investments. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
YTD Price Performance: -13.51%
Average Trading Volume: 1,175,156
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$2.13B
Find detailed analytics on 0931 stock on TipRanks’ Stock Analysis page.