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China Qinfa Group Ltd. ( (HK:0866) ) has issued an announcement.
China Qinfa Group Ltd. announced that its subsidiary, SDE, has entered into a Coal Supply Agreement with Zhejiang Energy Asia Pacific for the sale of 150,000 MT of Indonesian steam coal. This agreement is considered a connected transaction under Hong Kong’s Listing Rules due to Zhejiang Energy Asia Pacific’s status as a connected person at the subsidiary level. The transaction has been approved by the Board and deemed fair and reasonable by independent non-executive directors, thus exempting it from certain regulatory requirements. This agreement is expected to enhance the company’s operational capabilities and strengthen its market position in coal supply.
The most recent analyst rating on (HK:0866) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Qinfa Group Ltd. stock, see the HK:0866 Stock Forecast page.
More about China Qinfa Group Ltd.
China Qinfa Group Ltd. is a company incorporated in the Cayman Islands, operating within the coal industry. The company focuses on the supply and trading of coal, with a market focus on providing coal products to various energy sectors.
Average Trading Volume: 7,407,757
Technical Sentiment Signal: Buy
Current Market Cap: HK$8.45B
For a thorough assessment of 0866 stock, go to TipRanks’ Stock Analysis page.