E-Commodities Provides RMB161.7 Million Counter-Guarantee to Xiangyu Joint Stock

E-Commodities Holdings Limited ( (HK:1733) ) has issued an announcement.

E-Commodities Holdings Limited has agreed to provide a counter-guarantee of up to RMB161.7 million in favour of Xiangyu Joint Stock, proportional to its 49% stake in Xianghui Energy, to back banking facilities granted under a bank guarantee issued by Xiangyu Joint Stock to a designated bank. The arrangement, which covers the guaranteed amount plus any related interest, penalties and fees payable by Xiangyu Joint Stock, has been classified under Hong Kong Listing Rules as both a discloseable and connected transaction when aggregated with previous counter-guarantee deals with the same party, and will therefore be subject to reporting, announcement and annual review requirements, though exempt from circular and independent shareholders’ approval given board sign-off and independent directors’ confirmation that the terms are fair, reasonable and on normal commercial terms.

The most recent analyst rating on (HK:1733) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on E-Commodities Holdings Limited stock, see the HK:1733 Stock Forecast page.

More about E-Commodities Holdings Limited

E-Commodities Holdings Limited is a Hong Kong-listed company engaged in the commodities sector, with operations conducted through various indirect non-wholly owned subsidiaries including Inner Mongolia E-35 and Haotong Environmental Technology. The group’s activities involve energy-related businesses, where it holds a 49% equity interest in Xianghui Energy, reflecting a focus on commodity and energy supply chain operations within mainland China.

Average Trading Volume: 1,674,809

Technical Sentiment Signal: Sell

Current Market Cap: HK$2.35B

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