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Hengxin Technology Ltd. ( (HK:1085) ) has issued an announcement.
Hengxin Technology Ltd. announced that its indirect non-wholly owned subsidiary, Qinghai Zhongkong, has entered into long-term land use compensation agreements for two plots of natural grassland in Delingha, Qinghai Province, to support the operation of the company’s planned 350 MW solar thermal power generation pilot project. In line with provincial regulations, the subsidiary will also pay a grassland vegetation restoration fee to the Delingha municipal authorities, both the land-use rights and the restoration fee being treated as asset acquisitions under International Financial Reporting Standard 16 and Hong Kong listing rules, thereby constituting discloseable transactions that underline the company’s capital commitment and regulatory compliance as it advances its renewable energy strategy in China.
The most recent analyst rating on (HK:1085) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Hengxin Technology Ltd. stock, see the HK:1085 Stock Forecast page.
More about Hengxin Technology Ltd.
Hengxin Technology Ltd., incorporated in Singapore and listed in Hong Kong, operates in the power and technology infrastructure space and is expanding into renewable energy generation, including a proposed 350 MW solar thermal power demonstration project in Delingha, Qinghai Province, China.
Average Trading Volume: 213,195
Technical Sentiment Signal: Sell
Current Market Cap: HK$586.7M
Find detailed analytics on 1085 stock on TipRanks’ Stock Analysis page.