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Is Tangshan Jidong CementLtd (SZSE:000401) Weighed On By Its Debt Load?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only n
Jinyu Group (02009.HK): Jidong Cement plans to purchase 40% of China-Africa Jidong Building Materials Investment for 2000.1 million yuan
Gelonghui, April 30, 丨 Jinyu Group (02009.HK) announced that on April 29, 2024, Jidong Cement (000401.SZ, the company's A-share listed subsidiary) signed an equity transfer agreement with the China-Africa Fund. According to this, Jidong Cement conditionally agreed to buy and China-Africa Fund was conditional to sell its underlying shares (that is, 40% of the shares of the target company to be purchased by Jidong Cement under the share transfer agreement). The consideration was approximately RMB 200.1 million. The target company (that is, China-Africa Jidong Building Materials Investment Co., Ltd.) is a non-wholly-owned subsidiary of the company and is a company under Chinese law
Jinyu Group (02009): Jidong Cement plans to acquire 40% of the shares in China-Africa Building Materials held by the China-Africa Fund
Zhitong Finance App News, Jinyu Group (02009) issued an announcement. On April 29, 2024, the company held the 40th meeting of the 6th board of directors to review and pass the “Proposal on the Acquisition of Shares in China-Africa Jidong Building Materials Investment Co., Ltd.” In order to further promote the development of overseas cement business and rationalize the cement business management relationship, the company agreed to use its subsidiary Tangshan Jidong Cement Co., Ltd. (hereinafter referred to as “Jidong Cement”) to acquire China-Africa Jidong Building Materials Investment Co., Ltd. (hereinafter referred to as “China-Africa Fund”), a subsidiary owned by China-Africa Development Fund Co., Ltd. (hereinafter referred to as “China-Africa Fund”)
Jinyu Group (02009): Jidong Cement (000401.SZ)'s net loss to mother in the first quarter was 1,099 billion yuan, up 38.68% year-on-year
According to the Zhitong Finance App, Jinyu Group (02009) announced the results of the subsidiary Jidong Cement (000401.SZ) for the first quarter of 2024. The group achieved total operating revenue of 3.341 billion yuan (RMB, same below) during the period, a year-on-year decrease of 35.56%; net loss to mother was 1,099 billion yuan, an increase of 38.68% year on year; and basic loss per share was 0.413 yuan.
Jidong Cement (000401.SZ): Currently, the controlling shareholders and company executives have no plans to increase their shareholding
On April 24, Gelonghui | Jidong Cement (000401.SZ) said on the investor interactive platform that currently the controlling shareholders and company executives have no plans to increase their shareholding.
Jidong Cement (000401.SZ): As of April 20, 2024, the total number of shareholders of the company was 90,517
Gelonghui April 23 | Jidong Cement (000401.SZ) said on the investor interactive platform that as of April 20, 2024, the total number of shareholders of the company was 90,517.
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