HK Stock Market Move | EARLINE SERVICES (06666) soared more than 9% in early trading, with a $13.4 billion deposit recovery case already ruled. According to reports, CEG has been ordered by Hong Kong courts to wind up.

EVERG SERVICES (06666) surged over 9% in early trading, rising 5.48% to HK$0.77 by the time of publication with a trading volume of HK$37.3251 million. On the news front, EVERG SERVICES recently announced that about 13.4 billion yuan in deposits had been forcibly executed by related banks, and a lawsuit had been filed with the Guangzhou Intermediate People's Court for recovery matters. Currently, the Guangzhou Intermediate People's Court has made a relevant judgment requiring the parties involved to repay a total of about 13.4 billion yuan to EVERG SERVICES' subsidiaries and bear a total of about 72.7154 million yuan in case acceptance fees. In addition, there have been recent reports that EVERGRANDE's wholly owned subsidiary CEG Holdings has been ordered to wind up by a Hong Kong court. If this news is true, it would mean that CEG Holdings will exit the position of the controlling shareholder of EVERG SERVICES, giving EVERG SERVICES the opportunity to break free from the control of its parent company. It is worth noting that in November 2023, EVERG SERVICES' official WeChat public account was renamed "Jinbi Property Services," which was interpreted as a signal of EVERG SERVICES breaking away from Evergrande Group and moving towards independent operation.