China Ruifeng Renewable Energy Provides Update on Strategic Transactions

China Ruifeng Renewable Energy Holdings Ltd. ( (HK:0527) ) has provided an announcement.

China Ruifeng Renewable Energy Holdings Ltd. has announced a monthly update regarding its proposed subscription of new shares and convertible bonds, a potential acquisition of a 50% equity interest in a target company, and an application for a whitewash waiver. The completion of these transactions is contingent upon fulfilling certain conditions, including executing a formal equity transfer agreement. The company is awaiting further communication and consents from Hebei SASAC, and approvals from Hebei Transportation Investment Group. The target company’s audited financial statements for 2024 are expected to be finalized by mid-April 2025, which is crucial for the valuation update and final approval of the acquisition.

More about China Ruifeng Renewable Energy Holdings Ltd.

China Ruifeng Renewable Energy Holdings Ltd. is a company incorporated in the Cayman Islands, focusing on renewable energy solutions. The company is involved in the production and distribution of renewable energy, with a market focus on sustainable energy development.

YTD Price Performance: -21.54%

Average Trading Volume: 1,333,385

Technical Sentiment Signal: Buy

Current Market Cap: HK$874.5M

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