HK Stock Market Move | GUOQUAN (02517) has risen by more than 6%. GUOQUAN is happy to announce the completion and start of production of its food business. The industrial layout continues to expand.

GUOQUAN (02517) rose more than 6%, at the time of writing, it rose 6.3% to HK$2.7, with a turnover of HK$26.813 million. On the news front, on September 20, the inauguration ceremony of the new factory of GUOQUAN Huanhuan Food (Hubei) Co., Ltd., invested by GUOQUAN Investment Holdings, was successfully held in Shishou City, Jingzhou, Hubei. It is reported that GUOQUAN Huanhuan Food is committed to building a super river seafood factory, with Phase I of the project costing 1.5 billion RMB, covering an area of 147 acres, and a total construction area of 103,000 square meters. After full production, the maximum annual output of crayfish products can reach 20,000 tons, and the annual output of antibiotic-free bullfrog and freshwater fish products is 10,000 tons each. The annual output value can reach 1 billion RMB. So far, GUOQUAN Foods has a total of 4 self-built ingredient production factories and 1 incubated factory, focusing on the production and processing of beef, meatballs, sauces, river seafood, and shrimp products. In the first half of this year, GUOQUAN achieved revenue of 26.7 billion RMB; gross profit of 6.09 billion RMB, a year-on-year increase of 5.3%; gross profit margin was 22.8%, compared to 20.9% in the same period in 2023; core operating profit was 1.25 billion RMB, a year-on-year increase of 4.9%.