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HK Stocks Watch: Fit Hon Teng Precision (06088) fell more than 13% again, down nearly 35% from the high point of the month. The market is concerned that the first-half profit and revenue might not meet expectations.
Fit Hon Teng (06088) fell more than 13% in the afternoon, nearly a 35% drop from the monthly high of 3.95 Hong Kong dollars. As of press time, it has fallen 12.67% to 2.62 Hong Kong dollars, with a turnover of 0.155 billion Hong Kong dollars.
Can Mixed Fundamentals Have A Negative Impact on FIT Hon Teng Limited (HKG:6088) Current Share Price Momentum?
FIT Hon Teng Unit to Buy Assets of Automotive Electric Energy Distribution System Firm
FIT Hon Teng Limited Announces Major Acquisition
Fit Hon Teng (06088) plans to acquire Auto-Kabel Group's assets for 72.5 million euros through the Hong Kong stock connect program.
Hongteng Precision (06088) announced that it has entered into a purchase agreement with FIT GmbH, FIT Voltaira and each seller to acquire the target assets of Auto-Kabel Group (AK Group). The proposed transaction price will be 72.5 million euros (subject to adjustments, if applicable, upon completion of the transaction). The announcement stated that AK Group has decades of experience in the automotive industry and is a leader in innovation of high-voltage power distribution systems for automobiles, providing custom, highly flexible and best-matching products and solutions for automotive OEMs, covering cables, high-voltage connectors, fuses.
FIT Hon Teng (06088) subsidiary plans to acquire the target assets of AK Group.
FIT HON TENG (06088) announced that on July 10, 2024 and...
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