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The latest update is out from Minmetals Land Limited ( (HK:0230) ).
Minmetals Land’s indirect non-wholly owned subsidiary Chengdu Xiangkuang has entered into funds collection agreements with its shareholders Shengshi Guangye and Xiangcheng Yingchuang, arranging unsecured, interest-free transfers of RMB76.5 million and RMB73.5 million respectively, in proportion to their 51% and 49% stakes. Because Xiangcheng Yingchuang is a connected person at the subsidiary level and these transfers follow similar arrangements made within the past 12 months, the transactions are aggregated under Hong Kong Listing Rules, triggering reporting and announcement requirements but remaining exempt from the need for a circular, independent financial advice, or independent shareholders’ approval, thereby streamlining compliance while formalizing intra-group financing to its joint venture partners.
The most recent analyst rating on (HK:0230) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Minmetals Land Limited stock, see the HK:0230 Stock Forecast page.
More about Minmetals Land Limited
Minmetals Land Limited, incorporated in Bermuda and listed in Hong Kong, operates through subsidiaries including Chengdu Xiangkuang and Shengshi Guangye, with interests structured via majority- and minority-owned entities. Its corporate activities are governed by Hong Kong’s Listing Rules, particularly in relation to connected transactions involving its non-wholly owned subsidiaries and their joint venture partners.
Average Trading Volume: 2,575,365
Technical Sentiment Signal: Buy
Current Market Cap: HK$3.28B
See more insights into 0230 stock on TipRanks’ Stock Analysis page.