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Sinco Pharmaceuticals Holdings Ltd. ( (HK:6833) ) has issued an announcement.
Sinco Pharmaceuticals Holdings Ltd. announced a connected transaction involving an interest-free loan of HK$5 million provided by its subsidiary, Hong Kong Prosperous, to Mr. Huang, an executive Director and substantial shareholder. This transaction, which was subject to reporting requirements under the Listing Rules, was initially not announced due to an oversight, resulting in a breach of the rules. The company clarified that the non-compliance was unintentional, arising from a misinterpretation, and was discovered during a regular review of documents. The loan was necessitated by travel restrictions due to the COVID-19 pandemic, which prevented Mr. Huang from completing banking transactions in person.
More about Sinco Pharmaceuticals Holdings Ltd.
Sinco Pharmaceuticals Holdings Ltd. is a company incorporated under the laws of the Cayman Islands, operating in the pharmaceutical industry. It focuses on providing pharmaceutical products and services, with a market presence indicated by its listing on the Hong Kong Stock Exchange under the stock code 6833.
Average Trading Volume: 524,037
Technical Sentiment Signal: Sell
Current Market Cap: HK$368M
See more insights into 6833 stock on TipRanks’ Stock Analysis page.