HK Stock Market Move | HONBRIDGE (08137) has risen by nearly 20% again. Since the end of September, it has increased by 2.2 times. Xu Zhihao has taken over as chairman and CEO of the board of directors.

HONBRIDGE (08137) has risen by nearly 20%, with a cumulative increase of over 220% since September 27th. As of the time of writing, it has increased by 17.86% to HK$0.66, with a trading volume of HK$7.8297 million. On the news front, Geely Holding announced the "Taizhou Declaration" in September this year, declaring the entry of the company into a new stage of strategic transformation. On November 14th, Geely Holding announced the optimization of the equity structure of Geometry and Lynk & Co. On October 13th, HONBRIDGE announced the appointment of Xu Zhihao as executive director, chairman of the board and chief executive officer. Xu Zhihao has been serving at Geely Holding since 2017, possessing rich management experience and holding 2.2 billion shares, accounting for approximately 2.25% of the company's issued share capital. It is reported that since 2013, Geely International, a subsidiary of Geely Group, has been the second largest shareholder of HONBRIDGE. In January 2023, Geely Group plans to acquire 68.86% of the shares of HONBRIDGE's controlling shareholder, Hongqiao Capital Limited, triggering an unconditional mandatory general offer. Currently, Geely Group has gained control of Hongqiao Capital, thereby becoming the actual controller of HONBRIDGE.