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New Focus Auto Tech Holdings ( (HK:0360) ) has provided an announcement.
New Focus Auto Tech Holdings’ non-wholly owned subsidiary, New Focus Technology (Shanghai), has secured a 20-year industrial land-use right for a 38,614.19 sq m plot in Qingpu District, Shanghai, paying RMB46.34 million following a public bidding process. The consideration, funded by self-owned and self-raised funds, was aligned with the initial bid price set by local authorities and reflects current market conditions and the site’s development potential; the deal qualifies as a discloseable transaction under Hong Kong listing rules but does not require shareholder approval, signalling a moderate yet strategic expansion of the group’s industrial footprint in Shanghai.
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, incorporated in the Cayman Islands and listed in Hong Kong, operates in the automotive technology and related industrial sector through subsidiaries such as New Focus Technology (Shanghai). The group focuses on automotive-related industrial operations in mainland China, leveraging land and facilities in key regions such as Shanghai to support its business activities and future development.
YTD Price Performance: -6.12%
Average Trading Volume: 5,920,885
Technical Sentiment Signal: Sell
Current Market Cap: HK$792M
See more insights into 0360 stock on TipRanks’ Stock Analysis page.