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Sinotrans ( (HK:0598) ) has shared an update.
Sinotrans Limited announced a change in the usage of its repurchased A Shares, initially intended for an equity incentive scheme, to cancellation and reduction of registered capital. This decision comes as the three-year holding limit for the repurchased shares approaches, and the company plans to cancel 5,882,578 A Shares, subject to approval at the general meeting, which will slightly reduce the total number of shares and potentially impact shareholder value.
The most recent analyst rating on (HK:0598) stock is a Buy with a HK$5.00 price target. To see the full list of analyst forecasts on Sinotrans stock, see the HK:0598 Stock Forecast page.
More about Sinotrans
Sinotrans Limited is a joint stock limited company incorporated in the People’s Republic of China, operating in the logistics and transportation industry. The company focuses on providing comprehensive logistics services, including freight forwarding, shipping agency, and express services, primarily in the Chinese market.
Average Trading Volume: 8,988,647
Technical Sentiment Signal: Buy
Current Market Cap: HK$48.01B
For a thorough assessment of 0598 stock, go to TipRanks’ Stock Analysis page.