联合能源集团：Overhang on share price due to uncertain financial condition of controlling shareholder

United Energy (467 HK) Overhang on share price due to uncertain financial condition of controlling shareholder Orient Group (600811 CH, NR) announced last week that it was not able to withdraw deposits from Orient Finance, a sister company of Orient Group, as Orient Finance is facing financial difficulties. As at 17 Jun 2024, Orient Group's total deposit amount in Orient Finance was RMB1.64bn while the total borrowing was RMB666mn (net deposit: RMB974mn). ZHANG Hong Wei, the major shareholder of the Orient ...