Huaxi Holdings Co. Ltd. (HK:1689) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Huaxi Holdings Co. Ltd. has released additional details on its 2023 financial activities, highlighting two notable unsecured loans granted by the Group. Loan A, aimed at generating high interest returns, was loaned to a reputable property developer in Shantou, while Loan B was issued to expand the Group’s footprint in the Chinese cigarette industry. However, an impairment loss of approximately HK$6.44 million was recognized on Loan A due to the borrower’s financial struggles amidst a downturn in China’s real estate market post-pandemic.
For further insights into HK:1689 stock, check out TipRanks’ Stock Analysis page.