The latest update is out from Chongqing Machinery & Electric Co. Ltd. Class H ( (HK:2722) ).
Chongqing Machinery & Electric Co., Ltd. announced the deconsolidation of its subsidiary, Chongqing Sino-Germany Smart Factory Solutions Co., Ltd., to optimize governance and promote high-quality development. This strategic move, agreed upon by all shareholders, will see the subsidiary’s financials removed from the Group’s consolidated statements, though the shareholding ratio remains unchanged. The deconsolidation is expected to slightly reduce the Group’s revenue and profit but will not materially impact the consolidated financial statements for the first half of 2025. Future financial results of the subsidiary will be recorded as investment income.
More about Chongqing Machinery & Electric Co. Ltd. Class H
Chongqing Machinery & Electric Co., Ltd. is a company based in China that operates in the machinery and electric industry. It focuses on manufacturing intelligent automated production lines for machining, automated inspection lines for new energy vehicle gear cleaning and meshing checks, intelligent machining production lines for automotive engine blocks and cylinder heads, and automotive parts assembly and inspection lines.
YTD Price Performance: 5.00%
Average Trading Volume: 17,241
Technical Sentiment Signal: Sell
Current Market Cap: €349.9M
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