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[Brokerage Focus] GTJA maintains a "Shareholding" rating on TIANGONG INT'L (00826), expects demand for engineering tool steel to gradually recover.
Jinwu Financial News | GTJA released a research report stating that TIANGONG INT'L (00826) Titanium Alloy Sector is developing steadily. It is expected that after the successful issuance on the BSE, the increment of Titanium Alloy will continue to be released. The demand for tool and die Steel has slightly recovered, but the upward trend still needs confirmation, and the company's overall performance is expected to gradually improve. The bank indicated that driven by the booming development of domestic New energy vehicles, the demand for domestic tool and die Steel has obviously recovered. In the first half of 2024, TIANGONG INT'L's domestic revenue from tool and die Steel is expected to be 0.54 billion yuan, an increase of 44.1% year-on-year. However, overseas demand for tool and die Steel is relatively weak, with the company's overseas revenue from tool and die Steel decreasing by 16.8% year-on-year in the first half of 2024.
Returns On Capital At Tiangong International (HKG:826) Have Hit The Brakes
The repurchase of TIANGONG INT'L tools shares highlights the confidence in development, and the high-end products are boosting the continuous growth of TIANGONG INT'L (00826).
This repurchase of TIANGONG INT'L shares is a concrete expression of confidence in its own future development and a firm Bullish outlook.
Tiangong International Unit to Buy Back Shares in Subsidiary From Investors
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TIANGONG INT'L (00826.HK) repurchased shares of TIANGONG TOOLS.
Gelonghui, December 11, TIANGONG INT'L (00826.HK) announced that after discussions among all parties, on December 11, 2024, (1) Qichen, TIANGONG new materials, TIANGONG Hong Kong, the company, TIANGONG precision and TIANGONG tools will sign the share repurchase agreement for Qichen. According to this agreement, Qichen (as the transferor) will transfer its 1.1765% shareholding in TIANGONG tools to TIANGONG new materials (as the transferee) at a price of 0.115 billion RMB; (2) Qilu, TIANGONG new materials, TIANGONG Hong Kong, the company, TIANGONG precision and TIANGONG tools will sign the share repurchase agreement for Qilu. According to this agreement, Qilu (as the transferor) will transfer its shareholding at a price of RMB.
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