Lonking Sets Higher Caps on Connected Parts Purchases Amid Expected Machinery Market Recovery
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Lonking Holdings (HK:3339) has set higher annual purchase caps for connected transactions with Longyan City Jinlong Machinery, amounting to RMB50 million, RMB60 million, and RMB70 million for 2026, 2027, and 2028, respectively. This decision reflects management's optimistic outlook on a recovery in the construction machinery market in China. The board believes these caps are fair and reasonable, ensuring no premium is paid to the connected supplier. Analysts rate the stock as a Buy with a target price of HK$3.50, indicating confidence in future growth.
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