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Hongcheng Environmental Technology Co., Ltd. ( (HK:2265) ) just unveiled an update.
Hongcheng Environmental Technology Company Limited has agreed, via an indirect wholly owned subsidiary, to acquire 100% equity interest in a chemical producer for RMB71.17 million, bringing the target in as an indirect wholly owned subsidiary whose financial results will be fully consolidated into the group. The target company, which manufactures and sells sulphuric acid, amidosulfonic acid and magnesium sulfate, adds scale and product breadth to Hongcheng’s chemical operations, and the transaction qualifies as a discloseable transaction under Hong Kong listing rules, requiring public reporting and announcement but not shareholder approval, signaling a moderate yet strategically meaningful expansion of the group’s business footprint.
More about Hongcheng Environmental Technology Co., Ltd.
Hongcheng Environmental Technology Company Limited is an environmental technology company listed in Hong Kong that expands its business portfolio through subsidiaries and investments, with a focus on industrial and chemical-related operations within the broader environmental and chemical sectors.
Average Trading Volume: 252,213
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.06B
For detailed information about 2265 stock, go to TipRanks’ Stock Analysis page.