HK Stock Market Move | SUNART RETAIL (06808) rose by over 5%. The recent announcement of changes in board members has been completed with the delivery of the purchase and sale agreement.

SUNART RETAIL (06808) rose more than 5% in the morning session, up 3.95% as of press time, at 1.84 Hong Kong dollars, with a turnover of 1158.98 million Hong Kong dollars. On the news front, on February 28, SUNART RETAIL announced a series of changes in board members. The announcement mentioned that Huang Mingduan will resign as chairman of the board, Qin Yuehong and Han Liu have resigned as non-executive directors. Huayu Neng will be appointed as chairman of the board. It is reported that SUNART RETAIL and the offeror ParagonShineLimited jointly announced that the completion of the sale and purchase agreement was completed on February 27, 2025. Huatai previously pointed out that since 2024, with the adjustment of the new management strategy, SUNART RETAIL's business transformation has achieved results, with a year-on-year profit turnaround in 1HFY25, and the continued expansion of new formats such as M member stores and Zhongchao. The buyer of this equity transaction is a seasoned alternative asset management institution with extensive experience in the consumer goods industry, which may further help optimize the company's operations. Stay tuned for further developments.