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Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H ( (HK:1635) ) has shared an announcement.
Shanghai Dazhong Public Utilities (Group) Co., Ltd. has announced a connected transaction involving its subsidiary, Dazhong Factoring, entering into a Domestic Factoring Business Contract with Dazhong Wanxiang. This agreement allows Dazhong Factoring to provide up to RMB40 million in factoring financing to Dazhong Wanxiang, who will transfer its accounts receivable to Dazhong Factoring. The transaction is subject to certain listing rules but is exempt from the circular and independent shareholders’ approval requirements. This move is expected to enhance the company’s financial operations and strengthen its position in the factoring business.
More about Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H
Shanghai Dazhong Public Utilities (Group) Co., Ltd. is a joint stock company incorporated in China, operating in the public utilities sector. It is involved in providing services such as commercial factoring, which includes offering financial solutions to businesses by purchasing their accounts receivable.
Average Trading Volume: 10,766,937
Technical Sentiment Signal: Buy
Current Market Cap: HK$12.29B
See more insights into 1635 stock on TipRanks’ Stock Analysis page.