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Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H ( (HK:1635) ) has provided an announcement.
Shanghai Dazhong Public Utilities, through its subsidiary Dazhong Logistics Delivery, has entered into two new service contracts with associates of Shanghai Gas to expand its role in the liquefied petroleum gas (LPG) distribution chain in Shanghai. Under the Cylinder LPG Uniform Delivery and Safety Service Contract with Shanghai Gas Chongming and the LPG Cylinder Users Entrusted Delivery Service Contract with Shanghai Oriental Energy, Dazhong Logistics Delivery will provide unified transportation, installation and safety inspection services for LPG cylinders across Chongming District and wider Shanghai, receiving service fees in return. As these are continuing connected transactions with associates of a substantial shareholder, they fall under Hong Kong Listing Rules disclosure and annual review requirements, but the relatively small size of the deals exempts the company from needing a shareholder circular or independent shareholders’ approval, indicating incremental but regulated expansion of its service revenue without triggering major governance hurdles for investors.
The most recent analyst rating on (HK:1635) stock is a Hold with a HK$4.00 price target. To see the full list of analyst forecasts on Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H stock, see the HK:1635 Stock Forecast page.
More about Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H
Shanghai Dazhong Public Utilities (Group) Co., Ltd. is a PRC-incorporated public utilities group listed in Hong Kong, operating through subsidiaries in city gas and related energy logistics services, with a focus on gas supply and downstream services in Shanghai and surrounding regions.
Average Trading Volume: 104,666,843
Technical Sentiment Signal: Buy
Current Market Cap: HK$19.14B
For a thorough assessment of 1635 stock, go to TipRanks’ Stock Analysis page.