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Harbin Electric Co. Ltd. Class H ( (HK:1133) ) has provided an announcement.
Harbin Electric Company Limited plans to amend its articles of association to align with the latest PRC Company Law, updated Hong Kong Listing Rules, and the repeal of legacy mandatory provisions for overseas-listed companies. The changes will also embed new shareholder protection standards and adapt to the expanded paperless listing and updated corporate governance requirements.
The board proposes to cancel the company’s Supervisory Committee and supervisor roles, transferring their oversight powers to the board’s Audit Committee in line with regulatory norms. These amendments, along with the governance restructuring, will be put to shareholders for approval by special resolution at the upcoming annual general meeting, with a detailed circular and AGM notice to be sent in due course.
The most recent analyst rating on (HK:1133) stock is a Buy with a HK$23.00 price target. To see the full list of analyst forecasts on Harbin Electric Co. Ltd. Class H stock, see the HK:1133 Stock Forecast page.
More about Harbin Electric Co. Ltd. Class H
Harbin Electric Company Limited is a joint stock company incorporated in the People’s Republic of China and listed in Hong Kong under stock code 1133. The company operates in the electric equipment and power engineering sector, supplying products and services to the power generation and related industrial markets, with both executive and independent non-executive directors overseeing its governance.
Average Trading Volume: 9,085,079
Technical Sentiment Signal: Buy
Current Market Cap: HK$54.7B
See more data about 1133 stock on TipRanks’ Stock Analysis page.