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An announcement from Weichai Power Co ( (HK:2338) ) is now available.
Weichai Power Co., Ltd. has announced an extraordinary general meeting to discuss and approve the spin-off and listing of its subsidiary, Weichai Lovol Intelligent Agricultural Technology Co., Ltd., on the Main Board of the Hong Kong Stock Exchange. This strategic move is aimed at enhancing the subsidiary’s operational independence and regulatory compliance, while also safeguarding the interests of shareholders and creditors. The resolutions to be considered include the spin-off’s compliance with legal requirements, the company’s ability to maintain independence, and the provision of assured entitlements to H share holders.
More about Weichai Power Co
Weichai Power Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China, operating within the industrial sector. It is primarily involved in the manufacturing and distribution of powertrain systems, including engines, transmissions, and axles, with a focus on the automotive and equipment manufacturing industries.
YTD Price Performance: 32.24%
Average Trading Volume: 2,422
Technical Sentiment Signal: Strong Sell
Current Market Cap: $17.83B
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