HK Stock Market Move | DYNASTY WINES (00828) rose by nearly 12% in recent days, and is planning to establish a joint venture company in Guizhou. The controlling shareholder Tianjin Food plans to increase its stake in the company.

DYNASTY WINES (00828) rose by nearly 12%, as of the time of the report, it rose by 11.9% to HK$0.47, with a turnover of HK$4.8929 million. On the news front, on December 23, DYNASTY WINES announced that the company's board of directors had been informed by the company's controlling shareholder, Tianjin Food Group Limited (Tianjin Food) (which holds approximately 40.92% of the company's issued shares), that Tianjin Food plans to increase its stake in the company. The announcement stated that the increase in stake is intended to strengthen Tianjin Food's controlling position, increase its shareholding percentage, and convey positive information to the market about the controlling shareholder's confidence in the group's future prospects and long-term development. It is worth noting that on December 20, 2024, the company's wholly-owned subsidiary, Wangchao Brewing, signed a joint venture cooperation agreement with Guowei Company to establish a joint venture company in Renhuai City, Guizhou Province, China, for the trading of sauce-flavored white wine products nationwide. According to the joint venture cooperation agreement, the total registered capital will be RMB 10 million, of which 51.0% (i.e. RMB 5.1 million) will be contributed by Wangchao Brewing, and the remaining 49.0% (i.e. RMB 4.9 million) will be contributed by Guowei Company.