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Shougang Fushan Resources Group Limited ( (HK:0639) ) has shared an update.
Shougang Fushan Resources Group Limited has entered into a new financial services framework agreement with Shougang Finance, an indirect wholly owned subsidiary of its substantial shareholder Shougang Group, to continue receiving deposit, credit and other financial services for the period from 1 January 2026 to 31 December 2028 after the current 2023 framework expires at the end of 2025. Because Shougang Finance is a connected person, the renewed arrangement constitutes continuing connected transactions and a discloseable transaction under Hong Kong Listing Rules, triggering reporting, annual review, announcement and, for certain deposit caps, independent shareholders’ approval requirements, underscoring the regulatory scrutiny and governance obligations around the group’s intra-group financing structure.
The most recent analyst rating on (HK:0639) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on Shougang Fushan Resources Group Limited stock, see the HK:0639 Stock Forecast page.
More about Shougang Fushan Resources Group Limited
Shougang Fushan Resources Group Limited is a Hong Kong–incorporated company listed on the Hong Kong Stock Exchange, operating within the broader resources and industrial sector and maintaining close ties with its substantial shareholder Shougang Group through group-level financial and commercial arrangements.
Average Trading Volume: 11,362,769
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$14.76B
Learn more about 0639 stock on TipRanks’ Stock Analysis page.