HK Stock Market Move | MOMENTUM FIN (01152) resumed trading with a near 250% surge. The company has reissued its first-half performance report and recently appointed several new members to its management team.

MOMENTUM FIN (01152) resumed trading with a nearly 250% surge, rising by 233.33% to 0.13 Hong Kong dollars, with a trading volume of 1.4986 million Hong Kong dollars. On the news front, MOMENTUM FIN released its interim results, with a revenue of 329 million Hong Kong dollars in the first half of the year, a decrease of 12.45% year-on-year; the net profit attributable to owners of the company was 9.488 million Hong Kong dollars, a decrease of 42.96% year-on-year. The announcement stated that the decrease in revenue was mainly due to a decrease in sales from cross-border business. It is worth noting that at the end of August, the company announced that Mr. Xian Jiamin had been appointed as an independent non-executive director, chairman of the audit committee, member of the nomination committee, and member of the remuneration committee; on September 3, Mr. Chen Yifan was appointed as an independent non-executive director, chairman of the remuneration committee, and member of the audit committee and nomination committee; on September 16, executive director Mr. Zhang Rujie was appointed as the authorized representative of the company in accordance with listing rule 3.05. MOMENTUM FIN previously announced at the end of June this year that after the retirement of its executive director and independent non-executive directors, there is now only one director left, which is fewer than the minimum number required by the company's regulations, resulting in insufficient statutory numbers to conduct board meetings. The remaining sole director is actively seeking suitable candidates to fill the vacancies left by the retirees in order to quickly restore the functioning of the board. However, the process of appointing new directors may take time. Therefore, the actual timetable for the board to return to its normal composition remains uncertain. The company expects that the retirements will not have a significant impact on its daily business operations.