HK Stock Market Move | SAMSONITE (01910) fell by nearly 5% as China Easy-Fund reduced its holdings by 1.5 million shares. The institution is optimistic about its recovery in growth this year.

SAMSONITE (01910) fell by nearly 5%, closing at a decrease of 4.91% at 21.3 Hong Kong dollars, with a turnover of 19.28 million Hong Kong dollars. On the news front, the latest equity disclosure data from the Hong Kong Stock Exchange shows that on January 9th, SAMSONITE was reduced by 1.5 million shares at an average price of 22.5717 Hong Kong dollars per share by E Fund Management Co., Ltd., with a total amount of about 33.8576 million Hong Kong dollars. After the reduction, E Fund Management Co., Ltd.'s latest shareholding number is 125 million shares, and the shareholding ratio has decreased from 9.08% to 8.97%. A recent research report by Minsheng Securities pointed out that the company's revenue in Q1-3 of 2024 compared to the same period last year was +0.9%/-1.6%/-8.3%, with a cumulative year-on-year decrease of 3% (0.6% decrease at a constant exchange rate), mainly due to the weakening Chinese market, more cautious North American wholesale customers this year, and intensified promotional environment in the Indian market. It is expected that with the full recovery of the tourism industry, macroeconomic improvement, and steady expansion of the company's own products and channels, it is expected to return to positive growth by 2025. In addition, the company is currently moving forward with a US listing, which is expected to improve stock liquidity.