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Xinte Energy Co., Ltd. Class H ( (HK:1799) ) has shared an update.
Xinte Energy Co., Ltd. announced a capital injection agreement involving its subsidiary, Fengsheng Power Generation, with ICBC Financial injecting RMB500 million. This transaction will reduce Xinte’s equity interest in Fengsheng from 91.26% to 55.62%, constituting a deemed disposal under the Listing Rules. The agreement also includes an option for Xinte to reacquire the injected equity, which does not require a premium, ensuring compliance with the applicable Listing Rules. This strategic move is expected to enhance Fengsheng’s financial standing and operational capacity, potentially impacting Xinte’s market positioning and stakeholder interests.
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, operating primarily in the energy sector. The company focuses on renewable energy solutions and power generation, with a market focus on expanding its energy infrastructure and capabilities.
Average Trading Volume: 1,600,827
Technical Sentiment Signal: Sell
Current Market Cap: HK$6.94B
Learn more about 1799 stock on TipRanks’ Stock Analysis page.