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Hong Leong Asia ( (SG:H22) ) has provided an announcement.
China Yuchai International Limited has announced that Wu Qiwei, a Director and President of its main subsidiary Yuchai, along with former Chief Accountant Qin Xiaohong, have been detained by Chinese authorities. Despite the detentions, Yuchai’s operations continue uninterrupted under the leadership of Chairman Li Hanyang, with Vice President Chen Hai stepping in as acting President. The reasons for the detentions remain unclear, but the company assures stakeholders that business activities are proceeding as usual.
The most recent analyst rating on (SG:H22) stock is a Buy with a S$3.00 price target. To see the full list of analyst forecasts on Hong Leong Asia stock, see the SG:H22 Stock Forecast page.
More about Hong Leong Asia
China Yuchai International Limited, through its subsidiary Guangxi Yuchai Machinery Company Limited, is a leading powertrain solution provider in China. The company specializes in designing, manufacturing, assembling, and selling a wide range of engines for various applications, including trucks, buses, construction, and marine equipment. With a comprehensive portfolio that includes diesel, natural gas, and new energy products, Yuchai has established a strong market presence in China and overseas since its founding in 1951.
Average Trading Volume: 1,968,035
Technical Sentiment Signal: Buy
Current Market Cap: S$1.89B
See more data about H22 stock on TipRanks’ Stock Analysis page.