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Sinotrans ( (HK:0598) ) has issued an announcement.
Sinotrans Limited has decided to cancel 5,882,578 repurchased A shares that were originally earmarked for an equity incentive scheme and instead use them to reduce its registered capital. Following the cancellation through the Shanghai Branch of China Securities Depository and Clearing Corporation Limited, the company’s total share capital will fall from 7,179,633,805 to 7,173,751,227 shares, with a corresponding decrease in registered capital. In line with Chinese company law and its articles of association, Sinotrans has issued a formal notice to creditors, giving them a defined period to file claims or request guarantees, while stressing that any debts will continue to be repaid according to existing terms even if claims are not submitted within the specified timeframe.
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 leading Chinese logistics and freight forwarding company, providing integrated logistics, warehousing, and transportation services with a focus on domestic and international cargo movements. The company operates in both A-share and H-share markets and is subject to regulatory oversight in mainland China and Hong Kong, reflecting its role as a major player in the regional logistics and transportation industry.
YTD Price Performance: 45.46%
Average Trading Volume: 6,947,109
Technical Sentiment Signal: Buy
Current Market Cap: HK$46.06B
See more data about 0598 stock on TipRanks’ Stock Analysis page.