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An announcement from Hilong Holding Ltd. ( (HK:1623) ) is now available.
Hilong Holding Limited has provided an update on its action plan to address the auditor’s disclaimer of opinion on its FY2024 financial statements, which was due to uncertainties related to going concern. The company is actively working with legal and financial advisors to restructure its 2024 Notes and is exploring new financing sources to meet its financial obligations. Additionally, Hilong is implementing measures to expedite the collection of receivables and improve internal controls. The company remains committed to resolving these issues to establish a sustainable long-term capital structure and will continue to update stakeholders on its progress.
More about Hilong Holding Ltd.
Hilong Holding Limited is a company incorporated in the Cayman Islands, operating with a focus on providing services and products in the oilfield equipment and services industry. The company is involved in manufacturing and supplying oilfield equipment and providing related services, with a market focus on addressing challenges in liquidity and capital structure.
Average Trading Volume: 11,589,804
Technical Sentiment Signal: Buy
Current Market Cap: HK$298.6M
For detailed information about 1623 stock, go to TipRanks’ Stock Analysis page.