First Tractor Says Terminated Share Transfer Will Not Affect Operations

First Tractor Co ( (HK:0038) ) has shared an announcement.

First Tractor Company Limited announced that its controlling shareholder, YTO, has terminated a share transfer agreement and a related capital reduction agreement with Luoyang Industrial Holding Group after certain conditions precedent could not be fulfilled. As a result, YTO remains the controlling shareholder with approximately 48.81% of the company’s issued A shares, and the board stated that the termination is not expected to have any material impact on First Tractor’s business operations or financial position, suggesting stability for existing shareholders and limited immediate implications for corporate control or strategy.

The most recent analyst rating on (HK:0038) stock is a Buy with a HK$10.00 price target. To see the full list of analyst forecasts on First Tractor Co stock, see the HK:0038 Stock Forecast page.

More about First Tractor Co

First Tractor Company Limited is a mainland China-based manufacturer in the agricultural machinery sector, best known for producing tractors and related equipment. The company’s A-shares are listed in Hong Kong, with YTO as its controlling shareholder holding nearly half of its issued share capital, underscoring its strategic role in China’s agricultural and industrial equipment markets.

YTD Price Performance: 0.48%

Average Trading Volume: 3,907,155

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$14.84B

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