HK Stock Market Move | GUOQUAN(02517) rose nearly 4% and completed the acquisition of 41% equity of Beihai Daixiaji Food. The company's store network is rapidly expanding.

GUOQUAN (02517) rose nearly 4%, up 3.85% as of the time of writing, reaching 1.89 Hong Kong dollars, with a turnover of 147.67 million Hong Kong dollars. On the news front, GUOQUAN announced the acquisition of 41% equity interest in Beihai Daixiaji Food Co., Ltd. (the target company). The preconditions set out in the equity acquisition agreement have been fulfilled or waived, and according to the terms and conditions of the equity acquisition agreement, the company will complete the acquisition of 41% equity interest in the target company on December 24, 2024. Northeast released a research report stating that GUOQUAN's store network is rapidly expanding, reaching 10,307 stores by 2023, covering 29 provinces, autonomous regions, and municipalities directly under the central government. With the expansion and deepening of offline store sales channels, innovative and diverse new sales channels, strengthened research and development and upstream supply chain capabilities, the consolidation of core competitive advantages, improved digitalization of the supply chain, the promotion of membership system construction, the enhancement of operational efficiency and revenue, continued increase in brand building and marketing investment, and the enhancement of consumer reach and stickiness, it is expected that store and revenue will steadily grow.