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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(0388)
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Hong Kong Exchanges and Clearing : UPDATE ON MEMORANDUM OF UNDERSTANDING

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08/16/2019 | 07:57am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA GREEN (HOLDINGS) LIMITED

中 國 綠色 食品 ( 控股 ) 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock code: 904)

UPDATE ON MEMORANDUM OF UNDERSTANDING

This announcement is made by China Green (Holdings) Limited (the "Company") pursuant to Rule

13.09 of the Listing Rules and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

Reference is made to the announcement of the Company dated 17 May 2019 in relation to the MOU and the possible issue of Shares under General Mandate (the "Announcement"). Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

Pursuant to the terms of the MOU, among other matters, the Company should pay the Deposit in the amount of HK$13,884,000 to the Vendor within 10 days after the signing of the MOU by the allotment and issue of 69,420,000 Shares to the Vendor, subject to the grant of the related listing approval.

The Company had made an application to the Stock Exchange for the listing of, and permission to deal in the aforesaid new Shares, which was rejected by the Stock Exchange today. The Company will discuss with the Vendor how to proceed with the MOU and the Possible Acquisition and further announcement will be made by the Company in due course.

By Order of the Board

China Green (Holdings) Limited

Sun Shao Feng

Chairman

Hong Kong, 16 August 2019

As at the date of this announcement, the Board comprises four executive Directors, namely Mr . Sun Shao Feng (Chairman and Chi ef Executive Officer) , Mr . Wang Jinhuo , Mr. Liu Yuk Ming and Mr. Shum Wan Wah, Walter; and three independent non-executive Directors, namely Mr. Wei Xiongwen, Mr. Hu Ji Rong and Mr. Guo Zebin.

Disclaimer

HKEx - Hong Kong Exchanges and Clearing Ltd. published this content on 16 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2019 11:56:04 UTC

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Financials (HKD)
Sales 2019 16 670 M
EBIT 2019 11 513 M
Net income 2019 9 824 M
Finance 2019 60 704 M
Yield 2019 2,78%
P/E ratio 2019 32,0x
P/E ratio 2020 29,2x
EV / Sales2019 15,3x
EV / Sales2020 11,9x
Capitalization 316 B
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Technical analysis trends HONG KONG EXCHANGES AND CL
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 278,41  HKD
Last Close Price 251,60  HKD
Spread / Highest target 35,1%
Spread / Average Target 10,7%
Spread / Lowest Target -14,5%
EPS Revisions
Managers
NameTitle
Charles Xiaojia Li CEO & Ex-Officio Executive Director
May Lung Cha Chairman
Chi Kin Tai Joint Chief Operating Officer & Head-Clearing
Kwok Keung Lee Joint Chief Operating Officer
John F. Killian Chief Financial Officer
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