Shimao Services Forms RMB283 Million Partnership for Liaoning Sewage Treatment Project

Shimao Services Holdings Limited ( (HK:0873) ) has issued an announcement.

Shimao Services’ indirect wholly owned unit Shanghai Shimao Tianjing has entered into a partnership with Huludao Yongsheng to invest in and operate a sewage treatment project in Xingcheng City, Huludao, Liaoning Province, China. Under the agreement, the new limited partnership, to be named Liaoning Qisheng Project Management Consultancy Partnership (Limited Partnership) subject to regulatory approval, will have total committed capital of RMB283 million, with Shanghai Shimao Tianjing contributing 99% and Huludao Yongsheng 1%, funded from Shimao’s internal resources. Huludao Yongsheng will act as the executive general partner, overseeing day-to-day management and reporting, while the structure marks a discloseable transaction under Hong Kong listing rules, signalling Shimao Services’ continued push into environmental infrastructure operations and potentially strengthening its position in the growing urban sewage treatment and public-utility services market in China.

The most recent analyst rating on (HK:0873) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Shimao Services Holdings Limited stock, see the HK:0873 Stock Forecast page.

More about Shimao Services Holdings Limited

Shimao Services Holdings Limited, through its indirect wholly owned subsidiary Shanghai Shimao Tianjing, operates in mainland China with a focus on project-related services and investments, including infrastructure-related operations such as environmental and municipal service projects.

YTD Price Performance: -32.61%

Average Trading Volume: 3,253,633

Technical Sentiment Signal: Sell

Current Market Cap: HK$1.53B

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