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China Oriental Group Co ( (HK:0581) ) just unveiled an update.
China Oriental Group Company Limited, through its subsidiary Jinxi Heavy Industry, has acquired an additional 2,950,000 shares of Jiangsu Shentong, increasing its stake to 1.38%. This acquisition, valued at approximately RMB43.45 million, was funded by the company’s internal resources. Jiangsu Shentong specializes in the production of special valves used in industries such as metallurgy, nuclear energy, and petrochemicals. The acquisition is part of China Oriental’s strategy to strengthen its position in the market by expanding its investment in companies with complementary industrial applications.
The most recent analyst rating on (HK:0581) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on China Oriental Group Co stock, see the HK:0581 Stock Forecast page.
More about China Oriental Group Co
China Oriental Group Company Limited is an investment holding company primarily involved in the manufacturing and sales of iron and steel products. The company also engages in trading steel products, iron ore, and related raw materials, as well as sales of power equipment and real estate business. Jinxi Heavy Industry, a subsidiary of the company, focuses on manufacturing casting products and equipment maintenance.
Average Trading Volume: 5,251,655
Technical Sentiment Signal: Sell
Current Market Cap: HK$4.84B
Find detailed analytics on 0581 stock on TipRanks’ Stock Analysis page.