Hilong Holding Updates on Action Plan to Address Auditor’s Disclaimer
Hilong Holding Ltd. has updated its action plan to address an auditor's disclaimer of opinion. The company is restructuring its 2024 Notes and has received court approval to adjourn the hearing to January 2026. Hilong is selling a vessel for $100 million to reduce liabilities and is exploring new financing sources while implementing cost-cutting measures. The latest analyst rating for Hilong's stock (HK:1623) is a Hold with a price target of HK$0.50. Hilong operates in the oilfield equipment and services industry with a market cap of HK$385.1M.
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
