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An announcement from China Power International Development ( (HK:2380) ) is now available.
China Power International Development has renewed its framework for continuing connected banking transactions with Agricultural Bank of China (ABC) Group for the financial years 2026 to 2028, setting new annual caps on deposit and loan-related services. The company proposes maximum daily deposit balances with ABC Group of RMB20.31 billion, RMB25.78 billion and RMB32.71 billion for 2026, 2027 and 2028, respectively, and caps on loan services involving security of RMB19.43 billion, RMB24.38 billion and RMB30.66 billion over the same period. Because ABC Financial holds more than 10% of a key subsidiary, the transactions are treated as connected transactions under Hong Kong listing rules, but the Stock Exchange has granted a waiver from the strict written-agreement requirement, subject to caps, board approval and annual review. The bank services, which also cover unsecured loans, settlement and other services, are confirmed by independent non-executive directors to be on normal commercial terms or better, allowing most of them to proceed without the need for shareholder approval, thereby providing the group with continued, sizeable banking support while remaining within the connected-transaction regulatory framework.
The most recent analyst rating on (HK:2380) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on China Power International Development stock, see the HK:2380 Stock Forecast page.
More about China Power International Development
China Power International Development Limited is a Hong Kong-incorporated power company engaged in the generation and sale of electricity, with operations organized through various subsidiaries including Beijing Company. It participates in China’s energy sector and maintains banking relationships with major financial institutions to support its financing, deposits and settlement needs.
Average Trading Volume: 13,156,456
Technical Sentiment Signal: Buy
Current Market Cap: HK$41.93B
Find detailed analytics on 2380 stock on TipRanks’ Stock Analysis page.