CHINA QINFA (00866) rose nearly 4%, as of the time of this report, up 3.91%, priced at 1.33 Hong Kong dollars, with a transaction volume of 4.8579 million Hong Kong dollars.
According to Zhito Finance APP, CHINA QINFA (00866) rose nearly 4%, as of the time of this report, up 3.91%, priced at 1.33 Hong Kong dollars, with a transaction volume of 4.8579 million Hong Kong dollars.
In the news, on June 25 this year, CHINA QINFA announced the sale of a 40% stake in Li Yuan Development to an independent third party, Zhejiang Energy International, with net proceeds of 2.8 billion yuan, of which 64% is intended for debt repayment. After completion, the company will still Hold a 60% stake in Li Yuan Development, which, through its 75% stake in SDE, holds a coal mining operating license at a site in South Kalimantan, Indonesia. On November 28, the company announced that the aforementioned sale of the target company's equity had been completed.
Guosheng Securities Research Reports pointed out that with the smooth completion of the equity transfer, the bank believes that CHINA QINFA's balance sheet is expected to see significant improvement, the noticeable optimization of interest-bearing liabilities will significantly reduce the company's financial expenses, thereby increasing the company's annual profits and laying a foundation for the future development of the remaining mining areas in Indonesia.