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Huazhang Technology Holding Ltd. ( (HK:1673) ) has issued an update.
Huazhang Technology Holding Ltd., through its wholly-owned subsidiary Zhejiang Huazhang, has entered into a Restructuring Agreement to invest approximately RMB95.7 million in a Debtor Company undergoing bankruptcy restructuring. This investment will be used to settle the Debtor Company’s outstanding debts, and upon completion of the equity transfer, the Debtor Company will become a wholly-owned subsidiary of Huazhang Technology. This major transaction, which requires shareholder approval, is expected to strengthen Huazhang Technology’s market position by expanding its asset base.
More about Huazhang Technology Holding Ltd.
Average Trading Volume: 1,165,666
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$359.1M
For a thorough assessment of 1673 stock, go to TipRanks’ Stock Analysis page.