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China Jinmao Holdings Group Limited ( (HK:0817) ) has issued an update.
China Jinmao Holdings Group Limited announced that its subsidiary, Suzhou Tengmao, has agreed to acquire a 49% equity interest in Shanghai Taomao from Suzhou Chunmao for approximately RMB2,136.89 million. This acquisition will make Shanghai Taomao an indirect wholly-owned subsidiary of China Jinmao, enhancing its control over the development project located in Putuo District, Shanghai. The transaction, classified as a discloseable transaction under Hong Kong’s Listing Rules, is expected to strengthen China Jinmao’s position in the Shanghai real estate market, potentially impacting stakeholders by increasing the company’s asset base and market influence.
The most recent analyst rating on (HK:0817) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on China Jinmao Holdings Group Limited stock, see the HK:0817 Stock Forecast page.
More about China Jinmao Holdings Group Limited
China Jinmao Holdings Group Limited is a company incorporated in Hong Kong, primarily engaged in real estate development and management. The company focuses on developing residential and commercial properties, with a significant market presence in China.
Average Trading Volume: 46,127,232
Technical Sentiment Signal: Hold
Current Market Cap: HK$14.86B
Find detailed analytics on 0817 stock on TipRanks’ Stock Analysis page.