China Oriental Lifts Stake in Valve Maker Jiangsu Shentong to 1.77% via On-Market Purchase

China Oriental Group Co ( (HK:0581) ) just unveiled an announcement.

China Oriental Group’s subsidiary Jinxi Heavy Industry has further increased the group’s exposure to the industrial equipment supply chain by raising its stake in Shenzhen-listed valve producer Jiangsu Shentong to about 1.77%. Jinxi acquired an additional 2 million Jiangsu Shentong shares on the Shenzhen Stock Exchange for roughly RMB30.91 million in cash, funded entirely from internal resources, following a series of earlier purchases this month. The on-market transaction, conducted at prevailing market prices, involves independent sellers and underscores China Oriental’s continued strategic interest in Jiangsu Shentong, whose specialised valves serve key sectors such as metallurgy, nuclear energy, petrochemicals and other energy industries, and which has delivered rising net profits and substantial net assets in recent years.

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 a Bermuda-incorporated investment holding company focused on the trading of steel products and iron ore. Through its subsidiaries, the group is principally engaged in the manufacturing and sales of iron and steel products, trading of steel products, iron ore and related raw materials, as well as sales of power equipment and participation in the real estate business. Its subsidiary Jinxi Heavy Industry, based in the PRC, primarily manufactures casting products and provides equipment maintenance services.

YTD Price Performance: 20.44%

Average Trading Volume: 3,286,769

Technical Sentiment Signal: Sell

Current Market Cap: HK$4.91B

See more data about 0581 stock on TipRanks’ Stock Analysis page.