The latest announcement is out from Sany Heavy Equipment International Holdings Co ( (HK:0631) ).
Sany Heavy Equipment International Holdings Co has announced a connected transaction involving the disposal of its turbine tower assets. The agreement, dated March 12, 2025, involves Sany Marine Heavy Industry (Hunan) and Sany Heavy Steel selling these assets to Sany Turbine Tower Technology for approximately RMB52.85 million. This transaction is considered a connected transaction due to the involvement of Mr. Liang Wengen, a controlling shareholder, and is subject to specific reporting requirements under the Hong Kong Stock Exchange’s Listing Rules. The assets, used in the manufacturing of wind turbine towers, had a net book value slightly higher than the sale price, indicating a strategic move to streamline operations or refocus business priorities.
More about Sany Heavy Equipment International Holdings Co
Sany Heavy Equipment International Holdings Co is involved in the manufacturing industry, focusing on heavy equipment and machinery. Their primary products include equipment for construction, mining, and energy sectors, with a market focus on providing advanced machinery solutions.
YTD Price Performance: 6.14%
Average Trading Volume: 22,896
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.95B
See more data about 0631 stock on TipRanks’ Stock Analysis page.