HK Stock Market Move | China Longyuan Power Group Corporation(00916) rose more than 3% in early trading, with Rui Zhong Life Insurance increasing their holdings multiple times within the year, raising their stake to 13.06%.

China Longyuan Power Group Corporation (00916) rose more than 3% in early trading, and as of the time of writing, it had risen by 3.37%, to HK$6.74, with a trading volume of HK$52.2168 million. On the news front, it was reported on November 13th that according to documents disclosed by the Hong Kong Stock Exchange on the same day, Ruizhong Life Insurance Co., Ltd. increased its holdings of 3.103 million H shares of China Longyuan Power Group Corporation at an average price of HK$6.9779 per share on November 8th, with a total value of approximately HK$21.6524 million. After the increase, Ruizhong Life Insurance Co., Ltd.'s latest holding number is 433 million shares, and the holding ratio has increased from 12.97% to 13.06%. Previously, as disclosed by the Hong Kong Stock Exchange, on July 22nd, Ruizhong Life Insurance Co., Ltd. increased its holdings of 5.26 million shares of China Longyuan Power Group Corporation at a price of HK$7.45 per share, with a total amount of approximately HK$39.19 million. After the increase, the company held approximately 166 million shares, with a holding ratio of 5%. Open Source Securities believes that the entry of insurance funds may have a preference for hydropower, new energy, and other power assets, which on the one hand align with the country's dual carbon strategy, and on the other hand, these assets have the characteristics of almost no variable costs, with cash flow far exceeding net profit.