Sinofert Holdings Announces Connected Transaction for Rainwater Tank Replacement

The latest announcement is out from Sinofert Holdings ( (HK:0297) ).

Sinofert Holdings Limited announced a connected transaction involving its subsidiary, Sinochem Yunlong, which plans to replace the bottom of a deteriorating 7000m³ initial rainwater collection tank. The company has engaged CBCF and Hebei Zhenxing through a public tender process to undertake the survey, design, procurement, and construction work for this project, valued at RMB6,616,031.66. This transaction is classified as a connected transaction under the Hong Kong Listing Rules, requiring reporting and announcement but exempt from independent shareholders’ approval. The construction is set to commence on April 18, 2025, and complete by June 16, 2025, with a two-year warranty period.

More about Sinofert Holdings

Sinofert Holdings Limited operates in the chemical industry, focusing on the production and distribution of fertilizers and related agricultural products. The company is a significant player in the market, with Sinochem Holdings as its ultimate controlling shareholder.

YTD Price Performance: -15.00%

Average Trading Volume: 11,750

Technical Sentiment Signal: Sell

Current Market Cap: $1.07B

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