HK Stock Market Move | HAICHANG HLDG (02255) up 7% in the afternoon, with a cumulative increase of over 75% this month. The company has introduced financing and is expected to achieve significant strategic cooperation.

HAICHANG HLDG (02255) rose another 7% in the afternoon, with a cumulative increase of over 75% this month. As of the time of writing, it rose by 5.8% to HK$0.72, with a trading volume of HK$140 million. On the news front, HAICHANG HLDG previously announced that it has entered into a non-legally binding indicative terms list with an industrial fund, which plans to subscribe to US$100 million worth of convertible bonds issued by HAICHANG HLDG. This potential financing transaction will not only bring funds to the company for general corporate capital expenditures and working capital, but may also result in the fund becoming a major shareholder of the company, introducing new directors and senior management, establishing significant strategic cooperation relationships, and involving the company's current and future businesses. The announcement stated that the fund is currently an independent third party of the company, focusing on investment opportunities in the growth period of the modern service industry in China. Its main contributors are well-known enterprises with long-term and rich offline and online operation service experience, abundant traffic resources, and active layout in the cultural tourism sector.