HK Stock Market Move | MOKINGRAN (02585) rose nearly 9% in the morning, the company suggested implementing full circulation of H shares. There is still potential for expansion in the sinking market.

MOKINGRAN (02585) rose nearly 9% in the morning, as of the time of writing, it has risen by 8.96% to HK$15.32, with a trading volume of HK$5.7061 million. On the news front, on January 14th, MOKINGRAN announced that as of this announcement date, the company has submitted an application to the China Securities Regulatory Commission for approval of the proposed full circulation of H shares. Upon completion of all filing requirements (including filing with the China Securities Regulatory Commission) and obtaining all relevant approvals (including approval for conversion and listing on the Stock Exchange) and compliance with all applicable laws, regulations, and rules, the company's 164,760,000 unlisted shares will be converted into 164,760,000 H shares of the company, which will be listed and traded on the Stock Exchange. Guotai Junan's research report pointed out that MOKINGRAN is a high-purity gold jewelry OBM with a full industry chain layout, and there is still potential for expansion. As of June 30, 2024, the company has established a comprehensive channel layout covering the entire country, including 2,850 franchise stores operated by 1,670 franchisees, 7 self-operated service centers, 17 provincial agents, 36 self-operated stores, and online shops on mainstream e-commerce platforms. In the future, MOKINGRAN is expected to continue to expand its offline store network by opening new franchise stores and self-operated stores in existing markets and expanding nationwide.