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New Focus Auto Tech Holdings ( (HK:0360) ) has issued an update.
New Focus Auto Tech Holdings’ Shanghai subsidiary has signed a supplemental agreement with investor Zhongrong Juxin that ties Zhongrong Juxin’s business cooperation obligations to the Group maintaining Shanghai as its production base, including a requirement that at least half of the products from Zhongrong Juxin-related orders be independently manufactured by the Group in Shanghai and that the subsidiary retain sufficient local production capacity. The parties also agreed a contingency framework under which, if the Shanghai subsidiary loses its production capacity because of government relocation or other factors, another Group-controlled company registered in Shanghai would assume all rights and obligations, Zhongrong Juxin would inject RMB100 million for a 10% stake in that replacement entity on substantially the same terms, and would enter a concert party arrangement with the replacement company’s controlling shareholder, thereby preserving the structure and intent of the original capital increase and business cooperation while reducing operational and relocation risk for both sides.
The most recent analyst rating on (HK:0360) stock is a Hold with a HK$0.05 price target. To see the full list of analyst forecasts on New Focus Auto Tech Holdings stock, see the HK:0360 Stock Forecast page.
More about New Focus Auto Tech Holdings
New Focus Auto Tech Holdings Limited is an automotive-related group incorporated in the Cayman Islands and listed in Hong Kong, with its operations conducted through subsidiaries including New Focus Lighting & Power (Shanghai) in mainland China. The Group is engaged in automotive products and related services, with a production focus in Shanghai, positioning it within China’s auto supply chain and aftermarket manufacturing ecosystem.
YTD Price Performance: -6.12%
Average Trading Volume: 5,920,885
Technical Sentiment Signal: Sell
Current Market Cap: HK$792M
Find detailed analytics on 0360 stock on TipRanks’ Stock Analysis page.