HK Stock Market Move | Guojintongbao sells fresh food business, CSMALL (01815) soars by over 60%, and CHI SILVER GP (00815) increases by nearly 14%.

CSMALL (01815) experienced a surge in funds in the afternoon, rising by 62.07% to 0.47 Hong Kong dollars with a trading volume of 14.14 million Hong Kong dollars. At the same time, CHI SILVER GP (00815) rose by nearly 14%, reaching 0.29 Hong Kong dollars with a trading volume exceeding 5 million Hong Kong dollars. In terms of news, CHI SILVER GP and CSMALL announced in early November last year that Shenzhen Guojin Tongbao Limited (a wholly-owned subsidiary of CSMALL and a non-wholly-owned subsidiary of China Silver) plans to sell 51% of the target company to Shanghai Xinding Metal Materials Co., Ltd. for 300,000 RMB. The target company controls the operation of Jiangsu Nongmutu through a variable interest entity agreement (i.e., the fresh food retail business division). CHI SILVER GP and CSMALL recently jointly announced that the completion of the sale was made on January 13, 2025. After completion, CSMALL no longer holds any equity in the target company, the member companies of the target group are no longer subsidiaries of CSMALL and China Silver respectively, and the fresh food retail business division is no longer operating under the CSMALL group and CHI SILVER GP respectively.