Xinte Energy Enters Factoring Services Agreement Amid Regulatory Oversight

Xinte Energy Co., Ltd. Class H ( (HK:1799) ) has provided an announcement.

Xinte Energy Co., Ltd. has entered into a Factoring Services Framework Agreement with a Factoring Company to provide Non-recourse Factoring Services to the Group. This agreement, effective from March 31, 2025, constitutes a discloseable and continuing connected transaction under Hong Kong’s Listing Rules due to the relationship between Xinte Energy and the Factoring Company. The transactions are subject to various regulatory requirements, including announcement and independent shareholder approval. An Independent Board Committee and an Independent Financial Adviser have been appointed to guide shareholders, with further details to be circulated by April 24, 2025.

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 in the energy sector. It is primarily involved in providing energy-related services and products, with a significant market focus in China. The company is controlled by TBEA, which holds a majority stake in its share capital.

YTD Price Performance: -31.24%

Average Trading Volume: 2,828,502

Technical Sentiment Signal: Buy

Current Market Cap: HK$7.36B

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