Why Is China Natural Resources Stock Surging Today
Portfolio Pulse from Vandana Singh
China Natural Resources Inc (NASDAQ:CHNR) has agreed to sell all outstanding shares of Precise Space-Time Technology Limited to Feishang Group Limited for approximately $13.2 million. This includes Precise Space-Time Technology's outstanding payable owed to the company. Precise Space-Time Technology owns a 51% equity interest in Shanghai Onway Environmental Co Ltd. The news has led to a surge in CHNR's stock price by 22.7%.
July 31, 2023 | 3:57 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
China Natural Resources Inc's decision to sell all shares of Precise Space-Time Technology to Feishang Group has led to a 22.7% surge in its stock price.
The sale of Precise Space-Time Technology, a company with a 51% equity interest in Shanghai Onway Environmental Co Ltd, to Feishang Group has been positively received by the market, leading to a surge in CHNR's stock price. This indicates investor confidence in the company's decision, which could potentially lead to further growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100