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China Water Industry Group Limited ( (HK:1129) ) has issued an announcement.
China Water Industry Group Limited has disclosed that a third supporting creditor, bondholder Wang Jiandong, has filed a notice to appear at the upcoming court hearing to support an existing winding-up petition against the company. The creditor’s claim relates to an unpaid principal amount of HK$2 million on a bond issued in June 2018, adding further pressure to the group’s financial situation.
The company said no court order has yet been granted to wind it up and that it remains in negotiations with the original petitioner and all supporting creditors over settlement of outstanding sums. Management pledged to maintain active communication with creditors, seek an amicable resolution that is fair to all parties and work towards the withdrawal of the petition, while cautioning shareholders and potential investors to exercise care when dealing in its shares.
The most recent analyst rating on (HK:1129) stock is a Hold with a HK$0.31 price target. To see the full list of analyst forecasts on China Water Industry Group Limited stock, see the HK:1129 Stock Forecast page.
More about China Water Industry Group Limited
China Water Industry Group Limited is a Hong Kong-listed company incorporated in the Cayman Islands, engaged in the water-related infrastructure and environmental services sector. The group focuses on investment, development and operation of water supply and wastewater treatment projects, serving municipalities and industrial users in mainland China and surrounding regions.
Average Trading Volume: 315,917
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$246.6M
See more data about 1129 stock on TipRanks’ Stock Analysis page.