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The latest announcement is out from Xin Yuan Enterprises Group Ltd. ( (HK:1748) ).
Xin Yuan Enterprises Group Limited has announced the establishment of a special investigation committee and the appointment of an independent investigative body and legal adviser to address certain allegations made against the company and its directors. These allegations include undisclosed share transfer agreements involving a significant portion of the company’s stock and concerns over off-balance sheet borrowings and potential misappropriation of company funds. The outcome of this investigation could have significant implications for the company’s compliance with Hong Kong financial regulations and its market reputation.
More about Xin Yuan Enterprises Group Ltd.
YTD Price Performance: 9.32%
Average Trading Volume: 76,235
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$774.4M
Find detailed analytics on 1748 stock on TipRanks’ Stock Analysis page.