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China Metal Resources Utilization Ltd. ( (HK:1636) ) has provided an update.
China Metal Resources Utilization Ltd. announced that its auditors have issued a disclaimer opinion on its financial statements for the year ended December 31, 2024, due to concerns about the company’s ability to continue as a going concern. The company is actively seeking new investment, with a potential investor from Sichuan province conducting due diligence. Despite setbacks with previous investors, the company remains focused on securing RMB300 million to RMB500 million to drive its debt restructuring process. Additionally, the company is maintaining communications with creditors and managing cost control and working capital, although these measures alone are insufficient to resolve the financial concerns. The lifting of frozen bank accounts and assets has positioned the company to resume normal operations once the necessary investment is secured.
The most recent analyst rating on (HK:1636) stock is a Sell with a HK$1.00 price target. To see the full list of analyst forecasts on China Metal Resources Utilization Ltd. stock, see the HK:1636 Stock Forecast page.
More about China Metal Resources Utilization Ltd.
China Metal Resources Utilization Ltd. operates in the metal resources industry, focusing on the utilization and recycling of metal resources. The company is primarily engaged in the production and sale of copper and related products, with a market focus on sustainable resource management.
Average Trading Volume: 555,440
Technical Sentiment Signal: Sell
Current Market Cap: HK$385.4M
Find detailed analytics on 1636 stock on TipRanks’ Stock Analysis page.