Yankuang Energy’s Luxi Mining Provides RMB 1 Billion Loan to Heze Coal Electricity

Yankuang Energy Group Company Limited Class H ( (HK:1171) ) has provided an update.

Yankuang Energy Group Company Limited announced that its subsidiary, Luxi Mining, has entered into a loan contract with Heze Coal Electricity, a non-wholly-owned subsidiary of Luxi Mining. Luxi Mining will provide a RMB 1 billion loan to Heze Coal Electricity for three years at an interest rate of 3.10% per annum, secured by a pledge guarantee. This transaction is classified as a connected transaction under the Listing Rules, subject to reporting and announcement requirements but exempt from circular and shareholders’ approval.

The most recent analyst rating on (HK:1171) stock is a Hold with a HK$7.80 price target. To see the full list of analyst forecasts on Yankuang Energy Group Company Limited Class H stock, see the HK:1171 Stock Forecast page.

More about Yankuang Energy Group Company Limited Class H

Yankuang Energy Group Company Limited is a joint stock company incorporated in the People’s Republic of China, primarily operating in the energy sector. The company is involved in mining and energy production, with a focus on coal and electricity generation.

Average Trading Volume: 25,819,082

Technical Sentiment Signal: Buy

Current Market Cap: HK$121.7B

For a thorough assessment of 1171 stock, go to TipRanks’ Stock Analysis page.