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Teamway International Group Holdings Limited ( (HK:1239) ) has issued an update.
Teamway International Group Holdings Limited has announced that its subsidiary, Sichuan Hejing Packing Materials Co., Ltd., has received an enforcement order for the sale of a pledged property, representing about 2% of the company’s total assets, to Sichuan Guanxuan Packaging Products Co., Ltd. The proceeds from the sale will be used to repay a loan and its accrued interest, with the remaining balance allocated as working capital. The company assures that this development will not disrupt its normal operations, as it plans to negotiate a lease to continue using the property or find alternative facilities 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 is a company incorporated in the Cayman Islands, operating within the packaging industry. Its primary focus is on producing and supplying packaging materials, with a market presence that includes subsidiaries such as Sichuan Hejing Packing Materials Co., Ltd.
Average Trading Volume: 958,657
Technical Sentiment Signal: Buy
Current Market Cap: HK$110.5M
For an in-depth examination of 1239 stock, go to TipRanks’ Overview page.