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CRRC ( (HK:1766) ) has issued an announcement.
CRRC Changchun, a subsidiary of CRRC Corporation Limited, has entered into an agreement to acquire 100% equity interest in Equipment Technology Company from Erqi Locomotive for RMB186.2090 million. This acquisition aims to bolster CRRC’s presence in the urban rail transit market in Beijing and support its strategic growth in emerging industries. The transaction will result in Equipment Technology Company becoming a wholly-owned subsidiary of CRRC Changchun, and it will be included in CRRC’s consolidated financial statements. The financial assistance previously provided by CRRC Group to Equipment Technology Company will be managed through capital increases and loans, ensuring compliance with Hong Kong Listing Rules.
The most recent analyst rating on (HK:1766) stock is a Hold with a HK$6.40 price target. To see the full list of analyst forecasts on CRRC stock, see the HK:1766 Stock Forecast page.
More about CRRC
CRRC Corporation Limited is a major player in the high-end intelligent equipment manufacturing industry, focusing on urban rail transit markets. The company is actively expanding its presence in strategic emerging industries, particularly in Beijing.
Average Trading Volume: 19,848,560
Current Market Cap: HK$243B
Find detailed analytics on 1766 stock on TipRanks’ Stock Analysis page.