HK Stock Market Move | HAICHANG HLDG (02255) rose more than 5% during the trading day. Tongzhou Whale Airlines won the bid for a land plot in Beijing and will build HAICHANG HLDG's new property.

HAICHANG HLDG (02255) rose more than 5% during trading hours, and as of the time of writing, it was up 4.11% at HK$0.76, with a trading volume of HK$22.3523 million. On the news front, on September 11, a multi-functional land parcel in Beijing's urban sub-center was successfully auctioned off to CEC Jinhai Real Estate Development Co., Ltd. for a base price of 809 million yuan. Public information shows that this land parcel is adjacent to Beijing Universal Studios and is planned to be developed into Beijing HAICHANG HLDG, with construction set to begin within the year. It is worth noting that the company is actively working towards the establishment of a marine park in the Kingdom of Saudi Arabia, expected to be unveiled in 2030. This will be Saudi Arabia's first large-scale marine park. In April 2023, HAICHANG HLDG signed a cooperation memorandum with the Saudi Arabian Ministry of Investment to explore investment opportunities related to tourism and culture in Saudi Arabia. In December 2023, HAICHANG HLDG signed a non-legally binding cooperation memorandum with the Saudi Arabian Tourism Development Fund (TDF) to collaborate on the development of the HAICHANG HLDG project in the Kingdom of Saudi Arabia.