Zhaowei Machinery Shareholder Transfers HK$249 Million Holdings from HSBC to Citibank

Stock News03-12 08:26

Hong Kong stock exchange data reveals that on March 11, a shareholder of Zhaowei Machinery (02692) transferred shares from Hong Kong Shanghai HSBC to Citibank. The transferred holdings were valued at HK$249 million, representing 10.11% of the company's shares.

Following market close on March 6, the Shanghai and Shenzhen stock exchanges announced adjustments to the Hong Kong Stock Connect list, effective from March 9. Zhaowei Machinery was included in the Hong Kong Stock Connect eligibility list.

According to its prospectus, the company is China's largest provider of integrated micro transmission and drive system products based on 2024 revenue, and ranks as the world's fourth largest provider in this sector. Its market shares are 3.9% and 1.4% respectively. The company's product portfolio primarily includes transmission systems, micro motor systems, electronic control systems, and key plastic injection parts for micro transmission and drive systems. Its products are mainly used in downstream sectors such as automotive, advanced industrial and smart manufacturing, medical technology, consumer technology, and embodied intelligent robotics.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment