New City Group’s Legal Challenge Hits Roadblock
Company Announcements

New City Group’s Legal Challenge Hits Roadblock

New City Development Group Limited (HK:0456) has released an update.

New City Development Group Limited faces a legal setback as its subsidiaries’ appeal against a RMB 57.90 million breach of contract ruling was dismissed by a PRC court. The company, which is currently considering seeking a re-trial, assures shareholders that the court decisions do not materially impact its financial health or operations. Shareholders are cautioned to be prudent in their dealings with the company’s securities.

For further insights into HK:0456 stock, check out TipRanks’ Stock Analysis page.

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App