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Beisen Holding Ltd. ( (HK:9669) ) just unveiled an update.
Beisen Holding Ltd. announced its subscription to a wealth management product from Shenwan Hongyuan Financial Products Company Limited, valued at USD29 million. This transaction is considered a discloseable transaction under Hong Kong’s Listing Rules, requiring notification and announcement but not shareholder approval. The investment, a guaranteed structured note with a non-principal guaranteed variable return, is expected to yield an annualized return of 3.0%-4.0%. The company views this as a strategic move to enhance capital utilization and increase income from idle funds without affecting its working capital or operations.
The most recent analyst rating on (HK:9669) stock is a Buy with a HK$9.50 price target. To see the full list of analyst forecasts on Beisen Holding Ltd. stock, see the HK:9669 Stock Forecast page.
More about Beisen Holding Ltd.
Average Trading Volume: 940,112
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.98B
Learn more about 9669 stock on TipRanks’ Stock Analysis page.