Pak Tak Admits Listing Rules Breach Over RMB136 Million Related-Party Guarantees

Pak Tak International Limited ( (HK:2668) ) has shared an announcement.

Pak Tak International Limited disclosed that its subsidiary Fushun Xingzhou entered into three guarantee agreements with a PRC bank to back loan facilities totaling up to RMB136 million for entities ultimately owned by its chairman and CEO, Mr. Wu Zongchuan. These guarantees cover amended and new facilities for Fushun Huawei and Fushun Zongchuan, reinforcing related-party financing support within the group.

The company admitted that its board failed to comply in a timely manner with Hong Kong Listing Rules on reporting, announcement, circular issuance and independent shareholders’ approval for these connected and discloseable transactions. The oversight underscores governance and compliance risks around related-party dealings, with implications for minority shareholders’ transparency and the company’s adherence to market regulations.

The most recent analyst rating on (HK:2668) stock is a Hold with a HK$0.26 price target. To see the full list of analyst forecasts on Pak Tak International Limited stock, see the HK:2668 Stock Forecast page.

More about Pak Tak International Limited

Pak Tak International Limited is a Bermuda-incorporated company listed in Hong Kong under stock code 2668. The group operates as an investment holding company with interests that include financial and commercial activities in mainland China, where it engages with affiliated entities and banks through guarantees and other financing-related arrangements.

Average Trading Volume: 37,108,773

Technical Sentiment Signal: Buy

Current Market Cap: HK$2.11B

For detailed information about 2668 stock, go to TipRanks’ Stock Analysis page.