Lygend Resources Announces $10.75M Equipment Purchase Agreement

Lygend Resources & Technology Co., Ltd. Class H ( (HK:2245) ) just unveiled an update.

Lygend Resources & Technology Co., Ltd. announced that its subsidiary, KPS, has entered into an Equipment Purchase Agreement with Ningbo Lihua for the acquisition of five portal cranes valued at approximately $10.75 million. This transaction is classified as a connected transaction under Hong Kong’s Listing Rules, requiring certain reporting and review procedures but exempt from independent shareholder approval. The deal includes a performance guarantee and a structured payment plan, potentially impacting the company’s operational capabilities and market positioning within the industry.

More about Lygend Resources & Technology Co., Ltd. Class H

Lygend Resources & Technology Co., Ltd. is a joint stock company incorporated in China, focusing on resource and technology sectors. It operates through subsidiaries like Ningbo Baoxin Special Steel Technology Co., Ltd., and is partially owned by Lygend Investment, which holds a significant stake in the company.

YTD Price Performance: 41.41%

Average Trading Volume: 369,451

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$17.23B

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