HK Stock Market Move | CG SERVICES (06098) surged more than 9% in early trading. Associated real estate company COUNTRY GARDEN soared 30% after resuming trading. The company said the recent impairment event does not affect its operations.

CG SERVICES (06098) rose more than 9% in early trading, rising 8.09% as of the time of writing to 5.48 Hong Kong dollars, with a trading volume of 1.17 billion Hong Kong dollars. In terms of news, COUNTRY GARDEN (02007) resumed trading today, with its intraday gain expanding to 30%. The company stated that it has developed multiple plans and measures to alleviate liquidity pressure and improve financial conditions, including actively implementing debt management measures, adjusting sales and pre-sale activities, and strictly controlling ineffective production capacity. The board of directors believes that the company has sufficient operating funds to meet its daily business operations until December 31, 2025, and will continue to operate sustainably. In addition, CG SERVICES recently announced that, based on prudence and the results of impairment tests, it plans to make provisions of approximately 800 million to 1.1 billion RMB for impaired assets, specifically for the non-wholly-owned subsidiary COUNTRY GARDEN Full State Environmental Technology. CG SERVICES stated that the group's operating funds are sufficient and its business continues to operate stably, and the above events will not affect the group's normal operations.