An announcement from Huabao International Holdings ( (HK:0336) ) is now available.
Huabao International Holdings Limited announced that its subsidiary, Huabao Flavours & Fragrances Co., Ltd., has encountered a significant financial shortfall with its investment in Shanghai Yifang Rural Technology Holdings Co. Ltd. Despite a performance guarantee, Shanghai Yifang reported substantial net losses over the past three years, leading Huabao Flavours to seek arbitration for compensation from the involved parties. The company is pursuing a claim of approximately RMB636 million to cover performance compensation and related costs, asserting that this action is in the best interest of its shareholders.
More about Huabao International Holdings
Huabao International Holdings Limited operates in the flavors and fragrances industry, focusing on the development and production of flavors, fragrances, and aroma chemicals. The company serves a wide range of markets, including food, beverage, personal care, and household products.
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $859.8M
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