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China Rare Earth Holdings ( (HK:0769) ) has issued an update.
China Rare Earth Holdings Limited has provided a supplemental announcement regarding its ongoing resumption progress, litigation updates, and continued suspension of trading. The company is dealing with allegations of misappropriation of assets by former management, which has led to minimal or suspended operations of its subsidiaries. The current board is actively working to retrieve necessary documents and records, facing challenges in accessing them. The company is also in the process of changing legal representatives to facilitate this retrieval and has discovered information on several lawsuits against its subsidiaries.
The most recent analyst rating on (HK:0769) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on China Rare Earth Holdings stock, see the HK:0769 Stock Forecast page.
More about China Rare Earth Holdings
China Rare Earth Holdings Limited operates in the rare earth and refractory material industries through its subsidiaries in the People’s Republic of China.
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$1.95B
For an in-depth examination of 0769 stock, go to TipRanks’ Overview page.