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The latest announcement is out from Xinte Energy Co., Ltd. Class H ( (HK:1799) ).
Xinte Energy Co., Ltd. has announced a revision of the annual cap for its existing continuing connected transaction with TBEA Group due to increased demand for miscellaneous services stemming from its 3GW New Energy Projects in Zhundong. The Board has resolved to adjust the annual cap under the Existing Miscellaneous Services Framework Agreement, entering into a Supplemental Framework Agreement while maintaining all other terms unchanged. This revision is significant as the transactions with TBEA, a controlling shareholder with a 66.61% stake, are considered connected transactions, requiring compliance with specific listing rules. The changes are subject to reporting, review, and shareholder approval, highlighting the importance of these transactions for the company’s operational and strategic objectives.
The most recent analyst rating on (HK:1799) stock is a Hold with a HK$8.50 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. operates in the energy sector, primarily focusing on the development and construction of new energy projects. The company is involved in projects related to polysilicon production, photovoltaic (PV), and wind power, with a significant emphasis on ensuring stable power supply and connectivity to the main power grid.
Average Trading Volume: 4,512,814
Technical Sentiment Signal: Hold
Current Market Cap: HK$11.64B
For a thorough assessment of 1799 stock, go to TipRanks’ Stock Analysis page.