HK Stock Market Move | HAICHANG HLDG (02255) rises more than 7% after announcing the introduction of potential strategic investors. The general contracting tender for the Beijing project will be launched soon.

HAICHANG HLDG (02255) rose more than 7%, as of the time of writing, it was up 7.27% at HKD 0.59, with a turnover of HKD 44.02 million. On the news front, on the evening of November 20, HAICHANG HLDG announced that it had entered into a non-legally binding indicative list of terms with an industrial fund, agreeing that the fund intends to subscribe to convertible bonds of the company worth USD 100 million. The potential financing is expected to make the fund a major shareholder of the company, introduce new directors and senior management, and establish a significant strategic partnership related to the company's current and future businesses. Furthermore, HAICHANG HLDG previously announced that its cultural and tourism project Beijing HAICHANG HLDG has recently initiated a general contracting tender, signaling that the project will enter a substantial construction phase. Beijing HAICHANG HLDG is located adjacent to Beijing Universal Studios in Beijing's Tongzhou District, with a planned total area of approximately 150,000 square meters, and is expected to open in 2027 in partnership with the Beijing Tongzhou Urban Construction and Operation Group.