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Kontafarma China Holdings Ltd ( (HK:1312) ) has issued an announcement.
Kontafarma China Holdings Ltd announced the potential winding up of its associate, True Concept Ltd, due to severe operational challenges and financial constraints in the Taiwanese fitness industry. Despite efforts to improve conditions, True Concept’s business has deteriorated, leading to the closure of its fitness centers and potential legal proceedings for liquidation. The company has recognized significant impairment losses, and True Concept’s total debts exceed HK$771.1 million, affecting various stakeholders including employees and creditors.
More about Kontafarma China Holdings Ltd
Kontafarma China Holdings Ltd operates in the fitness industry, focusing on providing fitness and wellness services through its subsidiaries. The company is involved in the franchising of fitness centers under the ‘True Fitness’ and ‘True Yoga’ brands in Taiwan.
Average Trading Volume: 5,488,525
Technical Sentiment Signal: Buy
Current Market Cap: HK$195.3M
For detailed information about 1312 stock, go to TipRanks’ Stock Analysis page.