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The latest update is out from China Qinfa Group Ltd. ( (HK:0866) ).
China Qinfa Group Ltd. has announced a substantial disposal and connected transaction involving the sale of its wholly-owned subsidiary, an investment holding company engaged in coal mining and operations, for RMB30,000,000. This transaction, which exceeds 75% of the applicable percentage ratios, requires shareholder approval and will result in the subsidiary’s financial results no longer being consolidated into the group’s statements. Additionally, the company has agreed to provide corporate guarantees for existing bank loans of the disposal group, totaling RMB389,500,000, while receiving an interest-free loan of RMB417,000,000 as security.
More about China Qinfa Group Ltd.
China Qinfa Group Ltd. is involved in the coal industry, primarily focusing on coal mining, operation, and sales from coal mines located in the People’s Republic of China. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 5,411,996
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$3.04B
Learn more about 0866 stock on TipRanks’ Stock Analysis page.