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The latest update is out from Triumph New Energy Company ( (HK:1108) ).
Triumph New Energy Company Limited has decided to terminate its entrusted management agreements involving Shengshi New Energy, Shengshi New Materials, Shuyang Xinda and Jiangsu Guangnian, effective 30 April 2026. The move follows board approval at its Eighth Meeting of the Eleventh Board and ends the company’s fiduciary responsibilities toward the target entities.
The decision was driven by a lack of material progress in planned asset injections, unfulfilled capital contribution obligations by partners, and evolving market conditions and industry trends. Triumph New Energy stated that ending these arrangements will not materially affect its production, operations or financial position, and will not harm the interests of the company or its shareholders as a whole.
More about Triumph New Energy Company
Triumph New Energy Company Limited, formerly known as Luoyang Glass Company Limited, is a joint stock limited company incorporated in the People’s Republic of China and listed in Hong Kong. The company operates in the new energy and advanced materials sector, focusing on glass-related and energy-transition businesses in the Chinese market.
Average Trading Volume: 4,240,922
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$5.38B
See more insights into 1108 stock on TipRanks’ Stock Analysis page.