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Hilong Holding Ltd. ( (HK:1623) ) just unveiled an update.
Hilong Holding Limited has provided an update on its action plan to address the auditor’s disclaimer of opinion. The company is negotiating with noteholders to restructure its 2024 Notes and has received court approval to adjourn the hearing to January 2026. Additionally, Hilong has approved the sale of a vessel for $100 million, with a significant portion of proceeds allocated to reducing liabilities. The company is also exploring new financing sources, reducing bank borrowings, and implementing cost-cutting measures to strengthen cash flow and manage receivables more effectively.
The most recent analyst rating on (HK:1623) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hilong Holding Ltd. stock, see the HK:1623 Stock Forecast page.
More about Hilong Holding Ltd.
Hilong Holding Limited is a company incorporated in the Cayman Islands, operating within the oilfield equipment and services industry. The company, along with its subsidiaries, focuses on providing products and services related to oilfield equipment, with a market presence that includes shipping operations.
Average Trading Volume: 4,310,953
Technical Sentiment Signal: Buy
Current Market Cap: HK$385.1M
See more data about 1623 stock on TipRanks’ Stock Analysis page.