HK Stock Market Move | CTIHK (06055) rose more than 7% during the trading session. The company recently signed a contract with Mong Kun, further expanding tax-free cigarette supply.

CTIHK (06055) rose more than 7% during trading hours, and at the time of writing, it had risen 5.48% to HK$24.05, with a turnover of HK$47.8 million. On the news front, as the company's cigarette export business expands, on April 3rd CTIHK entered into a framework agreement with one of the subsequent contracting parties, Monco Enterprises Limited, on the same terms as the original agreement. The Stock Exchange of Hong Kong has granted the company an existing exemption, which means that continuous connected transactions with the original contracting party under the framework agreement are not subject to the requirements of announcement, annual cap, and independent shareholder approval, and the term of such transactions shall be indefinite. Huaan pointed out that CTIHK's agreement with Monco Enterprises Limited this time will further expand the supply of the company's duty-free cigarettes and help increase the company's exclusive cigarette export business revenue and profitability. The bank also noted that in the long term, CTIHK carries the strategic responsibility of China Tobacco International's overseas business, and the company will gradually concentrate and integrate various overseas resources of China Tobacco to become a more competitive market participant in the global tobacco industry.