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Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. ( (HK:1938) ) has provided an announcement.
Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. announced the sale of a land parcel in Yunfu City, Guangdong Province, for RMB30.25 million. The land, initially intended for a steel pipe production line, has not been developed and has not generated revenue for the past two years. The transaction is classified as a discloseable transaction under Hong Kong’s Listing Rules, indicating a strategic move to optimize asset utilization and potentially improve financial liquidity.
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, primarily engaged in the production and sale of steel pipes for the petroleum and natural gas industries.
YTD Price Performance: 10.59%
Average Trading Volume: 135,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$190.1M
For detailed information about 1938 stock, go to TipRanks’ Stock Analysis page.