HK Stock Market Move | SHUI ON LAND (00272) jumps more than 5% in the morning after announcing a major restructuring plan in recent days.

SHUI ON LAND (00272) rose more than 5% in the morning, up 5.48% as of press time, at 0.77 Hong Kong dollars, with a turnover of 10.7845 million Hong Kong dollars. In terms of news, SHUI ON LAND announced that on November 5, 2024, in order to restructure the investment holding structure among the current shareholders of the project company (Yangpu Central and Taikoo Li, respectively joint ventures, Shanghai Ryan Investment, Guangqiao, and Tailong, each a subsidiary of the company), cooperation agreements were entered into with Ningbo Fund and Yangpu Knowledge Innovation. The announcement stated that the aim of these transactions is to restructure the investment holding structure related to the project assets among the existing shareholders of the project company, allowing the company to refinance its investments on more favorable commercial terms and increase investment returns; and by combining RMB income with new domestic RMB financing to eliminate foreign exchange risks and mismatches. In particular, by establishing limited partnership enterprises and transferring equity, opportunities have been created at the level of limited partnership enterprises to obtain domestic acquisition loans, with the main purpose being to complete the equity transfer of the project company.