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China Jinmao Holdings Group Limited ( (HK:0817) ) has issued an update.
China Jinmao Holdings Group Limited has agreed to sell 100% of the equity in its subsidiary Sanya Tourism to Sanya Luanmao for RMB2.2646 billion, following a public listing process aimed at asset securitisation. The consideration, based on an independent asset-based valuation of Sanya Tourism’s net assets, will be paid in cash via the China Beijing Equity Exchange, after which Sanya Tourism will cease to be a subsidiary; the deal qualifies as a discloseable transaction under Hong Kong listing rules, signalling an active move by China Jinmao to monetise and restructure its tourism-related holdings and potentially strengthen its balance sheet.
The most recent analyst rating on (HK:0817) stock is a Buy with a HK$1.70 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 Hong Kong-incorporated company engaged in property development and related investments through various subsidiaries, with a portfolio that includes tourism-related assets such as Sanya Tourism. The group focuses on leveraging asset securitisation and capital markets transactions to optimise its asset structure and improve capital efficiency within China’s real estate and tourism sectors.
Average Trading Volume: 28,472,352
Technical Sentiment Signal: Sell
Current Market Cap: HK$16.62B
See more insights into 0817 stock on TipRanks’ Stock Analysis page.