HK Stock Market Move | HKBN (01310) rises more than 5% again, turning losses into profits in the last fiscal year, and signing a distribution cooperation agreement with Shanghai Information2 Software Inc.

HKBN (01310) rose by more than 5% again. As of the release of this report, it increased by 4.83%, closing at HK$4.34, with a trading volume of HK$86.8093 million. On the news front, on November 12, Shanghai Information2 Software Inc. signed a cooperation agreement with HKBN. According to the agreement, HKBN will become the exclusive distributor of Shanghai Information2 Software Inc. in Hong Kong and introduce Shanghai Information2 Software Inc.'s data replication technology to enhance its service capabilities and support network in the local Hong Kong market. Regarding this cooperation, Hu Junqing, Chairman and General Manager of Shanghai Information2 Software Inc., believes that this can further bring diversified and multi-level data protection and management solutions to various industries in Hong Kong, enabling both parties to work together to enhance customer operational flexibility and strengthen business resilience. In addition, HKBN recently announced its full-year performance as of the end of August this year, with revenue of HK$10.651 billion, a 9% decrease compared to the same period last year. Shareholders' net profit was HK$10.277 million, reversing a loss of HK$1.267 billion in the same period last year into a profit. Credit Suisse believes that investors have positively responded to the company's full-year performance, as they are optimistic about the business turnaround and stable dividend prospects.