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Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. ( (HK:1938) ) has provided an update.
Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. announced that all proposed ordinary resolutions were approved by shareholders at an Extraordinary General Meeting held on September 5, 2025. The key resolution involved reducing the company’s share premium account by approximately RMB767,097,000 to offset accumulated losses as of December 31, 2024. This financial restructuring aims to improve the company’s balance sheet and potentially enhance its financial stability, which could positively impact its market positioning and stakeholder confidence.
The most recent analyst rating on (HK:1938) stock is a Buy with a HK$0.50 price target. To see the full list of analyst forecasts on Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. stock, see the HK:1938 Stock Forecast page.
More about Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd.
Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. is a company incorporated in the Cayman Islands, operating in the petroleum and natural gas industry. The company specializes in the production of steel pipes, which are essential components in the energy sector, particularly for the transportation of oil and gas.
Average Trading Volume: 1,249,533
Technical Sentiment Signal: Hold
Current Market Cap: HK$429.7M
See more data about 1938 stock on TipRanks’ Stock Analysis page.