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China XD Electric Elects Chair
We Think China XD Electric (SHSE:601179) Can Manage Its Debt With Ease
GE Singapore Plans to Trim China XD Electric Stake to 12% From 15%
China XD Electric (601179.SH): General Electric's Singapore company plans to shareholding no more than 3% of the shares.
Gelonghui on September 30th: China XD Electric (601179.SH) announced that General Electric's Singapore company plans to reduce its shareholding by no more than 153,776,470 shares, or 3% of the total share capital, within three months after the date of this announcement, from October 29, 2024 to January 28, 2025, for its own operational development needs. Among them, it plans to reduce no more than 51,258,823 shares through centralized bidding and no more than 102,517,647 shares through block trades.
China XD Electric (601179.SH): elected Zhao Yongzhi as the company's chairman.
On September 27th, Gelonhui reported that China XD Electric (601179.SH) announced that the company held the twenty-ninth meeting of the fourth board of directors on September 27, 2024, and passed the resolution on the election of the company's chairman. It was agreed to elect Mr. Zhao Yongzhi as the chairman of the fourth board of directors of the company, appointing Mr. Zhao Yongzhi as the chairman of the board of directors' global strategy planning and execution committee, with a term until the end of this board. As of the date of this announcement, Mr. Zhao Yongzhi does not hold any company shares. According to the company's articles of association, Mr. Zhao Yongzhi will be the company's legal representative from the date of his election as chairman of the company. The company will act according to the.
Research Reports Mining | China Securities Co.,Ltd.: China XD Electric's profitability is expected to improve, first given a "shareholding" rating.
CSC's research report pointed out that China XD Electric (601179.SH) saw a 22.87% year-on-year increase in non-recurring performance in the first half of 2024, achieving good growth. As a comprehensive leader in primary equipment for power transmission and distribution, the company benefits from the accelerated investment in grid construction and strong downstream market demand. The industry is thriving, with steady growth in grid investment. In the first seven months of 2024, the grid investment amounted to 294.7 billion yuan, a 19.2% year-on-year increase; with demand from the Shagohuang mega base and the Southwest hydropower transmission, the ultra high pressure construction remains rigid and continuous. Thanks to the high industry prosperity, as a leading enterprise in the sector, the company combines electrical appliances and transformers.
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