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An announcement from Triumph New Energy Company ( (HK:1108) ) is now available.
Triumph New Energy Company has completed the market supervision registration procedures for its acquisition of a 74.60% equity interest in Jiangsu Triumph New Material Co., Ltd. through a capital increase. This acquisition, which was approved by shareholders, will result in Jiangsu Triumph’s financial results being consolidated into Triumph New Energy’s accounts. The company is set to pay RMB373,000,000 for the acquisition, with the first tranche of 40% due by early June 2025 and the remainder by October 2025. This strategic move is expected to enhance Triumph New Energy’s market position and operational capabilities in the new energy sector.
The most recent analyst rating on (HK:1108) stock is a Hold with a HK$4.40 price target. To see the full list of analyst forecasts on Triumph New Energy Company stock, see the HK:1108 Stock Forecast page.
More about Triumph New Energy Company
Triumph New Energy Company, formerly known as Luoyang Glass Company Limited, is a joint stock limited company incorporated in the People’s Republic of China. The company operates in the energy sector, focusing on new energy materials and related services.
YTD Price Performance: -4.70%
Average Trading Volume: 7,058,947
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$4.94B
See more data about 1108 stock on TipRanks’ Stock Analysis page.