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Ever Reach Group Holdings Co., Ltd. ( (HK:3616) ) has issued an update.
Ever Reach Group Holdings Co., Ltd. announced a capital increase agreement involving its subsidiary, Xuchang Hengrun. Under the agreement, Xuchang Hengda, a subsidiary of Ever Reach, and Xuchang Shitou will increase their contributions to Xuchang Hengrun’s registered capital by RMB24 million and RMB36 million respectively. This will result in the registered capital of Xuchang Hengrun increasing from RMB100 million to RMB160 million. Consequently, Xuchang Hengda’s equity interest will decrease from 80% to 65%, while Xuchang Shitou’s stake will rise from 20% to 35%. This transaction is classified as a discloseable and connected transaction under the Hong Kong Listing Rules, requiring an announcement but exempt from further shareholder approval.
The most recent analyst rating on (HK:3616) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Ever Reach Group Holdings Co., Ltd. stock, see the HK:3616 Stock Forecast page.
More about Ever Reach Group Holdings Co., Ltd.
Average Trading Volume: 422,615
Technical Sentiment Signal: Buy
Current Market Cap: HK$384M
See more insights into 3616 stock on TipRanks’ Stock Analysis page.