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Auto retailers in general are doing well. Zhongsheng Hldg (00881) has risen 5.25%. In June, the inventory level of auto retailers was below the warning line.
Jingu Wealth News | Auto retailers are performing well overall, with Grand Baoxin (01293) up 11.25%, Zhongsheng Holdings (00881) up 5.25%, Meidong Auto (01268) up 4.95%, Yongda Auto (03669) up 2.47%, and Harmony Auto (03836) up 2.15%. On July 10th, the China Automobile Dealers Association released the "Auto Retailer Inventory" survey results for June 2024. The comprehensive inventory coefficient of automobile dealers in June was 1.40, a 2.8% decrease from the previous month and a 3.7% increase compared to the same period last year. Inventory levels were below the warning line. Dealers are upset.
China MeiDong Auto Holdings Repurchases Bonds to Cancel
China MeiDong Auto Holdings (HKG:1268) has, as of the date of the filing, repurchased its HK$2.75 billion zero coupon guaranteed convertible bonds due 2027, up to the principal amount of HK$807.0 mill
Meidong Auto has repurchased and conditionally canceled (or will soon cancel) bonds with a total principal amount of 807 million Hong Kong dollars.
Meidong Auto (01268) announced that, according to Rule 37.48(a) of the Securities Listing Rules of the Hong Kong Stock Exchange, the issuer and the company jointly announced that, as of the date of this announcement, the company has repurchased and conditionally cancelled (or will soon cancel) bonds with a total principal amount of HKD 807 million, accounting for approximately 29.35% of the initial total principal amount of the bonds (repurchased bonds). The repurchased bonds have the right to be converted into 18.03 million shares (rounded down to the nearest whole number of shares) of exchangeable shares (based on the current exchangeable price per share of HKD 44.7582 as of the date of this announcement).
Meidong Auto (01268) has repurchased and conditionally cancelled (or will soon cancel) bonds totaling HKD 807 million in principal.
Meidong Auto (01268) announced that it is following the securities listing rules of The Stock Exchange of Hong Kong Limited (the Listing Rules)...
HKEX market abnormality: Meidong Auto (01268) fell more than 3%, the bottom of the automotive industry cycle may be longer than expected, and domestic effective demand is still insufficient.
Meidong Auto (01268) fell more than 3%, as of press time, fell 3.27% to HKD 2.05, with a turnover of HKD 11.3853 million.
What You Can Learn From China MeiDong Auto Holdings Limited's (HKG:1268) P/E After Its 31% Share Price Crash
China MeiDong Auto Holdings Limited (HKG:1268) shareholders that were waiting for something to happen have been dealt a blow with a 31% share price drop in the last month. For any long-term shareho
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