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East Buy Holding Limited ( (HK:1797) ) has shared an update.
East Buy Holding Limited has announced its subscription to wealth management products offered by China Guangfa Bank (CGB) and China Merchants Bank (CMB). The company has invested RMB100 million in CGB with an expected annualized return of 2.80% and RMB50 million in CMB with a floating return between 2.30% and 3.30%. These transactions are part of East Buy’s strategy to utilize surplus cash for treasury management, reflecting its proactive approach to financial management and investment. The CGB subscription is considered a major transaction due to its size, while the CMB subscription is a discloseable transaction. The company has obtained necessary shareholder approval for the CGB subscription, indicating strong backing from its major shareholder, New Oriental.
The most recent analyst rating on (HK:1797) stock is a Hold with a HK$20.00 price target. To see the full list of analyst forecasts on East Buy Holding Limited stock, see the HK:1797 Stock Forecast page.
More about East Buy Holding Limited
Average Trading Volume: 34,042,699
Technical Sentiment Signal: Hold
Current Market Cap: HK$21.37B
For a thorough assessment of 1797 stock, go to TipRanks’ Stock Analysis page.