China In-Tech Shores Up Finances with Share Placement, Cost Cuts and Web3.0 Push

China Overseas Nuoxin International Holdings Limited ( (HK:0464) ) has shared an update.

China In-Tech Limited has outlined progress on measures to address a disclaimer of opinion on its latest annual results and to stabilise its financial position, including confirming that no loan defaults or legal actions have arisen and that it believes it has sufficient cashflow to meet obligations over the next 12 months. The group has raised approximately HK$102.9 million through a recent share subscription to fund business development, debt repayment and working capital, implemented strict cost controls in its electrical haircare appliance segment with a roughly 10% workforce reduction, and is pushing into Web3.0 ventures such as virtual digital product platforms and related payment solutions, while continuing to seek additional financing options and warning shareholders and potential investors to exercise caution.

The most recent analyst rating on (HK:0464) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on China Overseas Nuoxin International Holdings Limited stock, see the HK:0464 Stock Forecast page.

More about China Overseas Nuoxin International Holdings Limited

China In-Tech Limited is a Cayman Islands–incorporated company listed in Hong Kong that operates an electrical haircare appliance segment and is expanding into Web3.0-related businesses. Its activities include manufacturing and cost-optimising its haircare products while exploring digital technology ventures such as online platforms for virtual digital products, Web3.0-based applications, and payment or settlement solutions to diversify revenue and strengthen cashflow.

Average Trading Volume: 4,033,098

Technical Sentiment Signal: Buy

Current Market Cap: HK$1.02B

For detailed information about 0464 stock, go to TipRanks’ Stock Analysis page.