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Quanzhou Huixin Micro-credit Co., Ltd. Class H ( (HK:1577) ) just unveiled an announcement.
Quanzhou Huixin Micro-credit has clarified that five loans previously disclosed as part of its financial assistance transactions, with principal amounts ranging from RMB10 million to RMB30.2 million and granted between November 2020 and December 2021, have all been fully settled as of the dates referenced in earlier announcements. In response to past non-compliance incidents related to disclosure obligations under the Hong Kong Listing Rules, the company is rolling out a series of remedial measures, including tighter business procedures for due diligence and loan approval, expanded disclosure and risk management policies, strengthened size-test controls, greater involvement of external advisers, and oversight of the risk management function by an executive director, with all departments having acknowledged the updated compliance requirements for loan origination and renewal.
The most recent analyst rating on (HK:1577) stock is a Buy with a HK$1.00 price target. To see the full list of analyst forecasts on Quanzhou Huixin Micro-credit Co., Ltd. Class H stock, see the HK:1577 Stock Forecast page.
More about Quanzhou Huixin Micro-credit Co., Ltd. Class H
Quanzhou Huixin Micro-credit Co., Ltd. is a PRC-incorporated microfinance institution listed in Hong Kong (Stock Code: 1577) that focuses on providing loans and other financial assistance to customers, operating within the small-loan and financial services sector and subject to Hong Kong Listing Rules compliance for its financing activities.
Average Trading Volume: 3,386,000
Technical Sentiment Signal: Buy
Current Market Cap: HK$680M
Find detailed analytics on 1577 stock on TipRanks’ Stock Analysis page.