Lygend Resources & Technology Co., Ltd. Class H (HK:2245) has released an update.
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Lygend Resources & Technology Co., Ltd. has provided additional details to their May 30, 2024, announcement regarding a new shareholders agreement concerning a joint venture company not yet operational in sea freight activities. The update clarifies the company’s accounting treatment, stating the JV’s financial results will not be consolidated into the group’s financial statements, with investments accounted for using the equity method. The JV’s financials show unaudited total and net assets worth roughly 30.5 million RMB as of March 31, 2024.
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