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Sinotrans ( (HK:0598) ) just unveiled an update.
Sinotrans Limited has completed an A-share repurchase program initially launched in April 2022 to support an equity incentive scheme, buying back 49.28 million A shares, or about 0.67% of its then total share capital, at an average price of RMB3.94 per share using roughly RMB194 million of its own funds. The board and shareholders have now approved changing the use of 5,882,578 repurchased but unused A shares from equity incentives to cancellation and a corresponding reduction of registered capital, cutting total share capital to 7,173,751,227 shares; the company stated that the move will not materially affect its financial condition, operating performance, control structure, or listing status, and is not expected to harm the interests of shareholders, including minority investors.
The most recent analyst rating on (HK:0598) stock is a Hold 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 Chinese logistics and transportation company listed in Hong Kong that operates through A shares and H shares, focusing on integrated logistics services in mainland China and overseas markets.
Average Trading Volume: 6,947,109
Technical Sentiment Signal: Buy
Current Market Cap: HK$46.06B
Find detailed analytics on 0598 stock on TipRanks’ Stock Analysis page.