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Xingda International Holdings ( (HK:1899) ) just unveiled an update.
Xingda International Holdings Limited, through its subsidiary Faith Maple, has entered into capital reduction agreements with several stakeholders, including Chengshan Group, Sailun Group, Triangle Tyre, and Linglong Tire, to reduce the registered capital of a target company by approximately RMB151.62 million. This capital reduction will increase Xingda’s ownership in the target company from 70.32% to 74.25%, while the target company will remain a subsidiary, and its financial results will continue to be consolidated into Xingda’s financial statements. The transaction is classified as a discloseable transaction under the Hong Kong Stock Exchange’s Listing Rules, requiring reporting and announcement due to the applicable percentage ratios.
More about Xingda International Holdings
Average Trading Volume: 449,547
Technical Sentiment Signal: Sell
Current Market Cap: HK$2.23B
Find detailed analytics on 1899 stock on TipRanks’ Stock Analysis page.