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China Renaissance Holdings ( (HK:1911) ) has issued an update.
China Renaissance Holdings has agreed to acquire two portfolios of distressed consumer assets comprising non-performing personal consumption loan receivables from two vendors for a total consideration of about RMB308.3 million. The first portfolio, with an outstanding principal balance of roughly RMB6.677 billion, and the second, with about RMB752 million in principal, are both made up entirely of unsecured loans owed by individual borrowers that are significantly overdue, and will be purchased in cash in staged payments. Classified as a discloseable transaction under Hong Kong listing rules, the deal signals the group’s increasing participation in the distressed debt market, potentially enhancing returns through recovery of deeply discounted assets while also increasing its exposure to unsecured retail credit risk.
The most recent analyst rating on (HK:1911) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on China Renaissance Holdings stock, see the HK:1911 Stock Forecast page.
More about China Renaissance Holdings
China Renaissance Holdings Limited is a Hong Kong-listed financial services group that provides investment banking, asset management and related financial solutions, with a focus on China’s new economy and capital markets. The company operates through various subsidiaries and platforms to serve corporate, institutional and high-net-worth clients in fundraising, advisory and investment activities.
Average Trading Volume: 1,410,553
Technical Sentiment Signal: Sell
Current Market Cap: HK$2.51B
For an in-depth examination of 1911 stock, go to TipRanks’ Overview page.