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The Recent CN¥384m Market Cap Decrease Is Likely to Have Disappointed Insiders Invested in Shenzhen Hongfuhan Technology Co. Ltd. (SZSE:301086)
Shenzhen Hongfuhan Technology Shelves Dongguan Building Project
Hon Hai Precision Industry Co., Ltd (301086.SZ) intends to terminate the participation of its wholly-owned subsidiary in the Dongguan land bidding.
On July 16th, Gelunhui announced that Hongfujin (301086.SZ) held the 9th meeting of the second board of directors on July 16, 2024, and approved the proposal to terminate the participation of its wholly-owned subsidiary in the Dongguan land bidding. After friendly consultations between Dongcheng Street Office of Dongguan City and Yu Run Technology Co., Ltd. (referred to as 'Yurun Technology'), they plan to terminate the cooperation of the Yurun Technology New Energy Intelligent Equipment Headquarters New Building Project (referred to as 'the Project'). This matter still needs to be submitted to the company's shareholders meeting for approval, and the management should be authorized by the shareholders meeting for specific operation.
Investors Could Be Concerned With Shenzhen Hongfuhan Technology's (SZSE:301086) Returns On Capital
Hongfuhan (301086.SZ)'s main business is precision functional devices, heat dissipation products, and intelligent automation equipment.
Hongfujin (301086.SZ) stated on the investor interaction platform on June 4 that the company's main business is precision functional devices, heat dissipation products and smart automation equipment. The company's products are widely used in the field of consumer electronics products such as smart phones, tablets, laptops, smart clothing, home smart devices, VR, etc.
Shenzhen Hongfuhan Technology Co. Ltd.'s (SZSE:301086) Shares Climb 33% But Its Business Is Yet to Catch Up
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