HK Stock Market Move | CG Services (06098) surged over 5% in early trading. The company had previously sold its stake in Zhuhai Wanda Group and is expected to use the proceeds to support buyback and incentive plans.

CG SERVICES (06098) rose over 5% in the morning session, up 4.02% to 5.18 Hong Kong dollars as of press time, with a turnover of 61.8215 million Hong Kong dollars. On the news front, according to media reports, COUNTRY GARDEN has received expressions of support from creditors willing to provide long-term support. In addition, CG SERVICES recently completed the sale of its stake in Zhuhai Wanda Shares, receiving a total of 3.791 billion yuan, which means CG SERVICES has fully exited the shareholder ranks of Zhuhai Wanda. Analysts from Lyondell recently released a research report stating that CG SERVICES recently sold 3.8 billion yuan worth of assets, which is expected to further strengthen the company's net cash position and provide support for the recently announced buyback and incentive plans. Morgan Stanley published a research report indicating that with the reduction of the impact of related parties and the stabilization of the domestic property market, the mainland property management industry is expected to stabilize this year. The bank expects the mainland property management industry to return to normal this year, with industry profit restructuring largely completed. They believe that with the bottoming out of the property market this year and narrowing declines in sales and house prices, the sentiment in the property management industry will gradually improve this year, bringing potential re-rating opportunities.