China Jinmao Renews Connected Cash Pooling Arrangement with Controlling Shareholder

Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potentialChina Jinmao Holdings Group Limited ( (HK:0817) ) just unveiled an update. China Jinmao Holdings Group Limited has renewed its cash pooling cooperation arrangement with its controlling shareholder Sinochem Hong Kong Group and Sinochem Hong Kong Capital, entering into a new agreement under which it will continue to place deposits into the group’s cash pool while receiving additional protection for the safety of those funds. The renewed arrangement, which includes defined interest terms for deposits and overdrafts as well as a matched loan from Sinochem Hong Kong Capital equivalent to the company’s maximum approved deposit balance, is classified as a continuing connected transaction under Hong Kong listing rules and is subject to reporting, announcement and annual review requirements, but does not require independent shareholders’ approval. The structure is designed to enhance China Jinmao’s liquidity management and risk protection within the Sinochem group framework, while maintaining regulatory compliance for related-party financial assistance. The most recent analyst rating on (HK:0817) stock is a Buy with a HK$1.70 price target. To see the full list of analyst forecasts on China Jinmao Holdings Group Limited stock, see the HK:0817 Stock Forecast page. More about China Jinmao Holdings Group Limited China Jinmao Holdings Group Limited is a Hong Kong-incorporated company listed on the Hong Kong Stock Exchange, operating under the control of Sinochem Hong Kong Group, which holds approximately 38.36% of its issued shares. Through its affiliation with Sinochem, China Jinmao has access to group-level financial arrangements such as centralized cash pooling to support its funding, liquidity management and treasury operations. Average Trading Volume: 28,903,126 Technical Sentiment Signal: Sell Current Market Cap: HK$16.49B For an in-depth examination of 0817 stock, go to TipRanks’ Overview page.