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An announcement from Hilong Holding Ltd. ( (HK:1623) ) is now available.
Hilong Holding Ltd. has announced the completion of a supplementary investigation into its subsidiary, Metal Technology Co., Ltd. (MTC), which was established to assist Russian subsidiaries with financing and procurement. The investigation, conducted by an independent advisor, found no irregularities in MTC’s financial records or operations, confirming the integrity of its transactions and fund flows. The findings are crucial for the company’s ongoing efforts to resume trading, as it addresses procedural limitations and satisfies regulatory queries, thereby potentially restoring stakeholder confidence.
More about Hilong Holding Ltd.
Hilong Holding Ltd. operates in the oilfield services industry, focusing on providing drilling services, manufacturing oilfield equipment, and offering pipeline services. The company has a market focus on international operations, particularly in regions like Russia, where it has several subsidiaries.
Technical Sentiment Signal: Sell
Current Market Cap: HK$191.7M
For an in-depth examination of 1623 stock, go to TipRanks’ Stock Analysis page.