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Teamway International Group Holdings Limited ( (HK:1239) ) has shared an update.
Teamway International Group Holdings Limited announced that its subsidiary, Sichuan Hejing Packing Materials Co., Ltd., has received a court order confirming the auction sale of its pledged property, which constitutes about 2% of the company’s total assets. The proceeds from the sale will be used to repay an outstanding loan and interest, with the remaining balance allocated as working capital. The company assures stakeholders that its operations remain unaffected as it plans to negotiate a lease arrangement with the buyer to continue production at the current site or find alternative premises if necessary.
The most recent analyst rating on (HK:1239) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Teamway International Group Holdings Limited stock, see the HK:1239 Stock Forecast page.
More about Teamway International Group Holdings Limited
Teamway International Group Holdings Limited operates in the packaging industry, primarily through its subsidiary, Sichuan Hejing Packing Materials Co., Ltd. The company focuses on packaging materials and related services, with a market presence in China.
Average Trading Volume: 862,964
Technical Sentiment Signal: Buy
Current Market Cap: HK$78.91M
For an in-depth examination of 1239 stock, go to TipRanks’ Overview page.