A recent filing with the Hong Kong Stock Exchange revealed that on March 10, a shareholder of HANS CNC deposited shares with China International Capital Corporation (CICC) Hong Kong Securities. The deposited shares have a market value of HK$853 million, representing 13.04% of the company's issued share capital.
In a separate development, Citigroup issued a research report announcing its inaugural coverage of HANS CNC's Hong Kong-listed shares. The report expressed a positive outlook on the company, citing its position as a leading Chinese manufacturer of PCB drilling equipment. Citigroup highlighted that HANS CNC stands to benefit from robust demand growth from domestic AI PCB manufacturers, such as Shenzhen Han'S Cnc Technology Co.,Ltd.. Concurrently, Citigroup initiated coverage with a "Buy" rating and set a target price of HK$142 per share.
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