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C TRANSMISSION: ANNOUNCEMENT OF ANNUAL RESULTSFOR THE YEAR ENDED 31 DECEMBER 2024
C TRANSMISSION (00658.HK) control rights competition: a maze of capital players and the life-and-death challenges of manufacturing industry leaders.
Recently, C TRANSMISSION (00658.HK) and its major Shareholder FULLSHARE (00607.HK) have been embroiled in a control battle that continues to develop. This situation, involving a puzzling 6.6 billion yuan and the management of the major Shareholder, can be described as the annual "family feud" in the Hong Kong stock market. We might as well delve into the past and present of FULLSHARE's "takeover" of C TRANSMISSION to unveil the mysterious veil of this capital game. I. Capital Alliance According to public information and reports, in 2016, C TRANSMISSION's founder Hu Yueming brought in FULLSHARE as a major Shareholder to fend off foreign acquisitions.
China High Speed Transmission Equipment Expects to Swing to Loss For 2024>0658.HK
China High Speed Transmission Equipment Sees 2024 Loss CNY6.56B >0658.HK
China High Speed Transmission Equipment: Significant Impairments For Receivables Weighed on Results>0658.HK
C TRANSMISSION (00658.HK) expects a loss of 6.557 billion yuan for the fiscal year 2024, and has made a large impairment provision of 6.681 billion yuan for trade receivables and prepayments.
According to a report on March 23 by Gelonghui, C TRANSMISSION (00658.HK) announced that, compared to the profit attributable to the company owners of approximately RMB 95.5 million for the year ending December 31, 2023, it is expected to record a loss of approximately RMB 6.557 billion for the year ending December 31, 2024. This decrease is primarily attributed to a substantial impairment provision of RMB 6.681 billion for trade business receivables and prepayments. A previous announcement indicated that there is evidence suggesting that other related companies and individuals may have been involved in illegal activities that harm the company's interests, leading to the company making provisions for trade receivables and prepayments.
Insufficient Growth At China High Speed Transmission Equipment Group Co., Ltd. (HKG:658) Hampers Share Price
