HK Stock Market Move | Zhongsheng Holdings (00881) resumed trading and once fell more than 9%, after rising over 50% in the previous two days. They have signed a preliminary agreement with Chongqing Sokon Industry Group Stock.

ZHONGSHENG HLDG (00881) has seen cumulative gains of over 50% in the past two trading days, but this morning resumed trading with a drop of over 9%. As of the time of writing, the stock has fallen by 5.17% to 17.96 Hong Kong dollars, with a trading volume of 4.47 billion Hong Kong dollars. In terms of news, ZHONGSHENG HLDG announced that it has signed a preliminary agreement with Chongqing Sokon Industry Group Stock to further negotiate on cooperation in distributing its new energy vehicles. The announcement stated that aside from the aforementioned business opportunity, the company is not aware of any reasons that may have led to the trading price and volume of its shares, any material information that must be disclosed to avoid false market conditions for its securities, or any insider information required to be disclosed under Part XIVA of the Securities and Futures Ordinance of Hong Kong under Chapter 571 of the laws.