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The latest update is out from Zhejiang Shibao Co. Ltd. Class H ( (HK:1057) ).
Zhejiang Shibao Co. Ltd. announced a proposed reduction of shareholding by its controlling shareholder, Zhejiang Shibao Holding Group Co., Ltd., which plans to reduce its stake by no more than 16,452,647 A shares, representing up to 2% of the company’s total share capital. This reduction is driven by the shareholder’s own capital requirements and will be executed through block trading within a specified period. The reduction plan is not expected to alter the company’s control, governance structure, or ongoing operations, and complies with relevant securities regulations. Investors are advised to be aware of potential risks associated with this shareholding reduction.
More about Zhejiang Shibao Co. Ltd. Class H
Zhejiang Shibao Co. Ltd. is a joint stock company incorporated in the People’s Republic of China, operating in the automotive industry. The company primarily focuses on manufacturing and supplying steering systems and components for vehicles, catering to the automotive market.
Average Trading Volume: 21,564,957
Technical Sentiment Signal: Buy
Current Market Cap: HK$10B
For an in-depth examination of 1057 stock, go to TipRanks’ Overview page.