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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Oceanwide Holdings Limited    715   BMG2117K1045

CHINA OCEANWIDE HOLDINGS LIMITED

(715)
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China Oceanwide : PROGRESS UPDATE ANNOUNCEMENT ON CONTINUING CONNECTED TRANSACTION IN RELATION TO FURTHER RENEWAL OF LOAN AGREEMENT

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01/02/2020 | 06:47am 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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 715)

PROGRESS UPDATE ANNOUNCEMENT ON

CONTINUING CONNECTED TRANSACTION IN RELATION TO

FURTHER RENEWAL OF LOAN AGREEMENT

Reference is made to the circular (the "Circular") of China Oceanwide Holdings Limited (the "Company") dated 26 June 2017 regarding the Supplemental Agreement dated 12 May 2017 entered into between China Oceanwide Power and GSG in relation to the renewal of the Loan Agreement. Capitalised terms used in this announcement shall have the same meaning as those defined in the Circular unless the context requires otherwise.

The Supplemental Agreement was expired on 31 December 2019. Negotiation between the Group and GSG over the further renewal of the Loan Agreement is still ongoing. The Group is committed to reaching an agreement with GSG in relation to the further renewal of the Loan Agreement.

The Company will make further announcement as and when appropriate.

By Order of the Board

China Oceanwide Holdings Limited

HAN Xiaosheng

Chairman

Hong Kong, 2 January 2020

As at the date of this announcement, the Board comprises:

Executive Directors:

Non-executive Director:

Mr. HAN Xiaosheng (Chairman)

Mr. ZHAO Yingwei

Mr. LIU Bing

Mr. LIU Hongwei

Independent Non-executive Directors:

Mr. ZHANG Xifang

Mr. LIU Jipeng

Mr. LIU Guosheng

Mr. YAN Fashan

Mr. LO Wa Kei, Roy

Disclaimer

China Oceanwide Holdings Ltd. published this content on 02 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 January 2020 10:46:11 UTC


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Financials
Sales 2019 113 M 14,6 M 14,6 M
Net income 2019 -58,0 M -7,49 M -7,49 M
Net Debt 2019 12 181 M 1 572 M 1 572 M
P/E ratio 2019 -73,7x
Yield 2019 -
Capitalization 2 551 M 329 M 329 M
EV / Sales 2018 122x
EV / Sales 2019 146x
Nbr of Employees 88
Free-Float 25,0%
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Managers
NameTitle
Xiao Sheng Han Chairman & Chief Executive Officer
Wing Sze Wan Chief Financial Officer
Bing Liu Executive Director
Hong Wei Liu Vice Chairman
Guo Sheng Liu Executive Director