HK Stock Market Move | DUFU LIQUOR GP (00986) once fell more than 13%, the company recently completed a name change, and the stock price surged nearly 1.3 times in two days.

DUFU LIQUOR GP (00986) once fell by over 13%, after soaring nearly 1.3 times from May 12th to 13th. The stock price rose by over 18% yesterday, but fell back after reaching a peak, eventually closing down by over 2%. As of the time of writing, it has fallen by 10.79%, at HK$0.124, with a trading volume of 3.3858 million Hong Kong dollars. On the news front, on May 8th, China Environmental Energy announced its official name change to "DUFU LIQUOR GP Limited," with the stock abbreviations in Chinese and English changing to "DUFU LIQUOR GP." Starting from May 13, 2025. It was announced in February this year that the company will act as a sales agent for Sichuan DUFU LIQUOR GP Limited ("Du Fu Liquor"). The Board of Directors has identified business opportunities in the liquor industry, stating that liquor consumption frequency is often higher compared to the jewelry industry. It is worth noting that Du Fu Liquor Industry had previously initiated plans to go public in Hong Kong back in 2022, leading to speculations of a potential reverse merger this time. According to Time Weekly, regarding the issue of whether Du Fu Liquor is successfully going public through a reverse merger, Shen Meng, Executive Director of Xiangsong Capital, pointed out that this claim is not valid if there have been no changes in ownership. HKEX disclosure documents show that as of May 14th, two major shareholders of DUFU LIQUOR GP Limited (not Sichuan DUFU LIQUOR GP Limited), Guo Sha and Dong Qian, hold 47 million and 40 million shares respectively, accounting for 8.28% and 7.04% of the voting rights shares issued. Tianyancha shows that Du Fu Liquor Industry is held by 11 shareholders, with Peng Zuquan holding 45.57% of the shares, making him the actual controller of the company.