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Xinte Energy Co., Ltd. Class H ( (HK:1799) ) has shared an update.
Xinte Energy Co., Ltd. has entered into a Capital Injection Agreement with Tianchi Energy, resulting in a RMB35 million capital injection into a target company. This transaction will reduce Xinte Energy’s equity interest in the target company from 100% to 61%, while Tianchi Energy will hold 39%. Despite this reduction, the target company will remain a subsidiary of Xinte Energy. The transaction is classified as a connected transaction under Hong Kong’s Listing Rules due to the relationship between Tianchi Energy and Xinte Energy’s controlling shareholder, TBEA. The transaction is subject to reporting and announcement requirements but is exempt from independent shareholders’ approval.
The most recent analyst rating on (HK:1799) stock is a Buy with a HK$9.40 price target. To see the full list of analyst forecasts on Xinte Energy Co., Ltd. Class H stock, see the HK:1799 Stock Forecast page.
More about Xinte Energy Co., Ltd. Class H
Xinte Energy Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, primarily engaged in the energy sector. The company is involved in the production and distribution of energy products and services, with a focus on expanding its market presence through strategic partnerships and capital injections.
Average Trading Volume: 4,449,025
Technical Sentiment Signal: Buy
Current Market Cap: HK$11.57B
For an in-depth examination of 1799 stock, go to TipRanks’ Overview page.