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Shengli Oil & Gas Pipe Holdings Ltd. ( (HK:1080) ) has issued an announcement.
Shengli Oil & Gas Pipe Holdings Ltd. has announced its intention to dispose of its 98% equity interest in Zhejiang Shengguan Industrial Co., Ltd., a subsidiary with no business operations but holding a significant stake in Xinfeng Energy Enterprise Group Co., Ltd. The disposal will be conducted through a public tender process, with a minimum bidding price set at RMB29.50 million. The financial impact of this disposal on Shengli will depend on the final bidding price, but it is expected to result in a gain on disposal of approximately RMB14,000 and a decrease in fair value of the equity investment by RMB14,272,000.
More about Shengli Oil & Gas Pipe Holdings Ltd.
Shengli Oil & Gas Pipe Holdings Ltd. operates in the energy sector, focusing on the manufacturing and sales of oil and gas pipes. The company is involved in various aspects of the energy industry, including the development of new energy technologies and equipment.
YTD Price Performance: 300%
Average Trading Volume: 10,175,457
Technical Sentiment Signal: Buy
Current Market Cap: HK$480.4M
For a thorough assessment of 1080 stock, go to TipRanks’ Stock Analysis page.