The latest update is out from Poly Property Group Co ( (HK:0119) ).
Poly Property Group Co., Limited has announced a series of continuing connected transactions involving the provision of loans to minority shareholders, specifically SZ China Merchants and Huizhou Baozhi. These transactions, which include multiple loan agreements, have been aggregated into discloseable and major transactions as per the company’s announcements in August 2022, February 2023, and December 2023. The loans are intended to support the SZ Projects, which are currently under construction and in pre-sales, ensuring sufficient funding for construction costs and other expenses. The company expects that sales proceeds from pre-sales will cover these financial requirements, indicating a strategic move to bolster its property development operations.
More about Poly Property Group Co
Poly Property Group Co., Limited is a company incorporated in Hong Kong with a focus on property development in the People’s Republic of China. The company engages in the development and sale of residential and commercial properties, catering to the real estate market in China.
YTD Price Performance: 12.50%
Average Trading Volume: 101
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $801.5M
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