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Yincheng Life Service Co., Ltd. ( (HK:1922) ) just unveiled an announcement.
Ruisen Life Service Co., Limited has disclosed a series of major and connected transactions involving related parties linked to former non-executive director and controlling shareholder Mr. Huang, triggering extensive compliance obligations under Hong Kong’s Listing Rules. Between 2020 and 2023 the group provided multiple loans to Yincheng International Group and Yincheng Real Estate Group, purchased 13 commercial properties from Xincheng Real Estate for about RMB34.98 million, entered into various lease agreements with these related groups, formed a joint venture in March 2024 with Guanchao Shuke and Nanjing Jingzhong with registered capital of RMB10.5 million, and advanced RMB93.69 million to associate Jing’an Security between 2020 and 2024; collectively, the financial assistance to Yincheng-related entities exceeded the 25% major-transaction threshold and is subject to reporting, announcement and independent shareholders’ approval requirements, underscoring governance and related-party risk considerations for investors amid continued trading suspension.
More about Yincheng Life Service Co., Ltd.
Ruisen Life Service Co., Limited (Stock Code: 1922) is a Cayman Islands-incorporated company engaged through its subsidiaries in property-related and life services on the Chinese mainland, including property management and related commercial operations, with a focus on Nanjing and cooperation with affiliated real estate groups under the Yincheng brand.
Technical Sentiment Signal: Sell
Current Market Cap: HK$363.3M
For an in-depth examination of 1922 stock, go to TipRanks’ Overview page.