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Xingda International Holdings ( (HK:1899) ) has shared an update.
Xingda International Holdings Limited has entered into a connected transaction by providing a loan of HK$110 million to a controlling shareholder, who holds approximately 64% of the company’s total issued share capital. The loan, with an interest rate of 8% per annum and a term of one year, is subject to reporting and announcement requirements under the Listing Rules but is exempt from circular and independent shareholders’ approval. This transaction, financed through the company’s internal resources, reflects strategic financial management and compliance with regulatory frameworks.
The most recent analyst rating on (HK:1899) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on Xingda International Holdings stock, see the HK:1899 Stock Forecast page.
More about Xingda International Holdings
Xingda International Holdings Limited is an investment holding company incorporated in the Cayman Islands with limited liability, listed on the Main Board of the Stock Exchange. The company is primarily engaged in the manufacturing of radial tire cords, bead wires, and other wires, with operations in the PRC and Thailand, and sales across various countries including the PRC, India, Thailand, the USA, Slovakia, Brazil, South Korea, and Indonesia.
Average Trading Volume: 503,703
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$2.56B
See more insights into 1899 stock on TipRanks’ Stock Analysis page.