HK Stock Market Move | SY Holdings (06069) rose by over 5% in early trading, recently reaching a strategic cooperation agreement with Simbada to further accelerate the implementation of their "going global strategy."

SY HOLDINGS (06069) rose by over 5% in early trading. As of the time of writing, the stock had risen by 5.09% to 8.88 Hong Kong dollars, with a trading volume of 81.956 million Hong Kong dollars. On the news front, recently, SY HOLDINGS announced a strategic partnership with Simbada (Guangzhou) Technology Co., Ltd. (Simbada). The two parties will deeply cooperate in the field of cross-border e-commerce supply chain inclusive finance and other areas, linking the supply chain and ecosystem of cross-border e-commerce platforms, extending the supply chain inclusive finance services from domestic to overseas, and supporting the global industrial supply chain expansion and global factory layout of "going global" enterprises. This strategic cooperation signifies the group's further acceleration of the implementation of its "going global" strategy. Through this strategic partnership, the group will leverage Simbada's rich industrial ecosystem and industry data, using a risk control concept and business model of "heavy on transactions, light on entities" to help Simbada accelerate its expansion in overseas markets such as Turkey, Southeast Asia, and Morocco, thus helping Chinese garment industry clusters better integrate into the international market through cross-border e-commerce platforms. This strategic partnership is expected to help the group leverage nearly billions of yuan in cross-border supply chain inclusive finance business, while Simbada will further enhance its global flexible supply chain service capabilities, jointly exploring and exploiting new market opportunities with top cross-border e-commerce platforms.