Tongda Group Holdings Invests in Wealth Management Products
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Tongda Group Holdings (HK:0698) has announced a significant investment of RMB50 million in wealth management products through its subsidiary, Tongda Chuang Zhi. The investments include products from PSBC, CITIC, and China Merchants Bank, with the latter exceeding 5% of applicable percentage ratios, necessitating a disclosure under Hong Kong Stock Exchange rules. This strategic move aims to enhance financial returns and reflects proactive financial management. The current analyst rating for Tongda Group Holdings stock is a Buy, with a price target of HK$0.13.
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