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Tai United Holdings ( (HK:0718) ) has shared an announcement.
Tai United Holdings has clarified that approximately RMB62.4 million of onshore bank deposits held by its PRC subsidiaries Jinzhou Jiachi and Guangzhou Rongzhi have been withdrawn and transferred to accounts maintained by a mainland court. The company emphasized that, as of the latest update, this transfer has had no material impact on its operations or financial condition due to its self-sustaining business model, though shareholders and investors are urged to exercise caution when trading its securities.
More about Tai United Holdings
Tai United Holdings Limited, incorporated in Bermuda and listed in Hong Kong, operates through subsidiaries in mainland China, including Jinzhou Jiachi and Guangzhou Rongzhi. The group’s business operations are described as self-sustained, indicating that day-to-day activities and cash flows are not heavily dependent on the specific bank deposits involved in the court proceedings.
Average Trading Volume: 224,017
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$173.3M
For a thorough assessment of 0718 stock, go to TipRanks’ Stock Analysis page.