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More Unpleasant Surprises Could Be In Store For Sino ICT Holdings Limited's (HKG:365) Shares After Tumbling 28%
Sino ICT Secures RMB 45M Factoring Financing
Xincheng Technology (00365.HK) subsidiary signs factoring contract with Xinxin Commercial Factoring
Gelonghui, May 31, 丨 Xincheng Technology (00365.HK) announced that on May 31, 2024, Ridong Smart Shenzhen (a wholly-owned subsidiary of the company) signed a factoring contract with Xinxin Commercial Factoring. According to this, Xinxin Commercial Factoring agreed to provide financing secured by accounts receivable to Ridong Smart Shenzhen. The financing period is 36 months from the date the factoring contract is signed, and the financing capital is RMB 45 million. The company (holding company of Ridong Smart Shenzhen) signed a guarantee contract with Xinxin Commercial Factoring to provide a joint guarantee guarantee for Xinxin Commercial Factoring to fulfill its claims under the factoring contract.
SINO ICT: 2023 ANNUAL REPORT
Xincheng Technology (00365): Li Yongjun Resigns as Non-Executive Director
Zhitong Finance App News, Xincheng Technology (00365) issued an announcement. Li Yongjun needed more time to spend on other matters due to personal reasons and has resigned as a non-executive director of the company, effective April 24, 2024.
The 2023 owner of Xincheng Technology (00365.HK) should account for a loss of about 62.51 million yuan
On March 28, GLONGHUI | Xincheng Technology (00365.HK) announced that for the year ended December 31, 2023, the Group's revenue was approximately HK$211,795,000, down about HK$19,345,000; gross profit was approximately HK$61,371,000, down about HK$33,143,000; gross margin was 29%, down 12 percentage points year on year. Some of the Group's financial data declined compared to 2022. The main reasons are: (1) the main business was affected by the market environment, and the sector's gross profit contribution decreased; (2) energy storage and electricity
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YC Xiao :
This shows that sanction could be backfire.
Spinee OP YC Xiao :![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
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