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China New Town Development Co. Ltd. ( (HK:1278) ) has issued an update.
China New Town Development Co. Ltd. has announced a major transaction involving the extension of a financial assistance agreement for a joint venture. The company, through its subsidiary Xincheng Kaiyuan, alongside JPC, has agreed to extend the repayment schedule of a bank loan from 2031 to 2033, with both parties continuing to guarantee the loan. This extension involves an outstanding principal amount of approximately RMB423 million. The transaction is classified as a major transaction under Hong Kong’s Listing Rules, requiring shareholder approval, which has been obtained from major shareholders, negating the need for an extraordinary general meeting.
More about China New Town Development Co. Ltd.
China New Town Development Co. Ltd. is a company incorporated under the laws of the British Virgin Islands, operating in the real estate development industry. The company primarily focuses on developing new towns and urban infrastructure projects in China, aiming to enhance urban living environments and promote sustainable urbanization.
Average Trading Volume: 1,763,090
Technical Sentiment Signal: Buy
Current Market Cap: HK$904.5M
Learn more about 1278 stock on TipRanks’ Stock Analysis page.