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Hi Sun Tech (00818.HK): Plans to sell all equity of Hangzhou Electronics and Hangzhou Fushun for 41.6 million yuan.
On July 8, GeLongHui reported that Hi Sun Tech (00818.HK) issued an announcement that on July 7, 2024, the seller (Hangzhou Electric Power and Fushun, two indirect wholly-owned subsidiaries of the company) and the buyer (Zhejiang Houchao) entered into a stock transfer agreement (including) to sell all the equity of the company (Hangzhou Electronics and Hangzhou Fushun, two indirect wholly-owned subsidiaries of the company) at a price of about RMB 41.6 million. Hangzhou Electronics (a direct wholly-owned subsidiary of Hangzhou Electric Power) is mainly engaged in the research and development, production, and sales of electronic meters in China, and provides related solutions. Hangzhou Fushun (a direct wholly-owned subsidiary of Fushun)
Express News | Hi Sun Technology (China) - Hangzhou Electricity & Pacific Sheen to Sell Entire Stake in Hangzhou Electronic & Hangzhou Fushun to Zhejiang Haochao
Express News | Hi Sun Technology (China) Ltd - Deal for RMB41.6 Mln
Express News | Hi Sun Technology (China) Ltd - Disposal of Subsidiaries
Hi Sun Technology Expects Lower Operating Profit to Operating Loss in Six Months Ended June 30
Hi Sun Technology (HKG:0818) expects to record a significant decrease in operating profit or an operating loss for the six months ending June 30 as compared to the operating profit of about HK$69.7 mi
Hi Sun Tech (00818.HK) issued a profit warning: it is expected that the operating surplus in the medium-term will decrease significantly or even operate at a loss.
On June 28th, GlobeNewswire reported that Hi Sun Tech (00818.HK) has significantly reduced its operating profit by approximately 65% compared to the same period last year, which ended on May 31, 2024. The group expects a significant decrease or even an operating loss in operating profit for the six months ending on June 30, 2024, compared to the same period last year, with an estimated amount of HKD 69,700,000. The significant drop or even operating loss in operating profit is mainly due to the further digital payment replacing the traditional payment market and additional resource investment in overseas and cross-border business. Meanwhile, the digital service business is still in the expansion stage.
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