HK Stock Market Move | SHIMAO GROUP (00813) rose more than 7%, and the Hong Kong High Court issued an order to dismiss the winding-up petition against the company.

SHIMAO GROUP (00813) rose more than 7%, at the time of writing, up 7.87% to HKD 0.96, with a turnover of HKD 2.9058 million. On the news front, SHIMAO GROUP announced that it had filed a winding-up petition with the High Court. The company stated that, with the agreement of both parties, the High Court had ordered the withdrawal of the petition against the company. It is reported that Shen Hua Lian Sheng Investment filed a winding-up petition against SHIMAO GROUP in the High Court on January 10 this year, involving guarantees provided for cross-border loans from Shi Maoji and Zhao Yinzhou International Finance, with an outstanding amount of nearly RMB 258 million. SHIMAO GROUP previously announced that the group's contract sales for January 2025 amounted to approximately RMB 2.21 billion, a year-on-year increase of 4.74%; the contracted sales area was 176,526 square meters. The average selling price in January 2025 was RMB 12,492 per square meter.