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Sunac Services Holdings Ltd. ( (HK:1516) ) has issued an announcement.
Sunac Services Holdings has entered into a series of debt settlement agreements with affiliated companies under Sunac Group, under which it will acquire car parking spaces and other properties in Shanghai and Guangzhou in lieu of cash to settle outstanding receivables. The transactions, valued at approximately RMB26.26 million, are classified as connected transactions under Hong Kong listing rules due to Sunac China’s roughly 49% stake in the company; they are subject to reporting, announcement and annual review requirements but are exempt from circular issuance and independent shareholders’ approval, streamlining the process of converting receivables into property assets while staying within regulatory thresholds.
The most recent analyst rating on (HK:1516) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Sunac Services Holdings Ltd. stock, see the HK:1516 Stock Forecast page.
More about Sunac Services Holdings Ltd.
Sunac Services Holdings Limited is a Hong Kong-listed property management and related services provider, operating through subsidiaries across mainland China. The company focuses on managing residential and commercial properties, including associated facilities such as car parks, and maintains close operational ties with its controlling shareholder Sunac China and its affiliated property development entities.
Average Trading Volume: 11,993,769
Technical Sentiment Signal: Sell
Current Market Cap: HK$4.28B
Learn more about 1516 stock on TipRanks’ Stock Analysis page.