HK Stock Market Move | ORANGE SKY G H (01132) will increase 50% and stop operating all cinema businesses in Hong Kong. Expected confirmed income is 65 million Hong Kong dollars.

ORANGE SKY G H(01132) rose by 50%, reaching 0.063 Hong Kong dollars by the time of this report, with a trading volume of 1.4725 million Hong Kong dollars. On the news front, ORANGE SKY G H announced that the company has completed or reached agreements to terminate the leases of The Sky, Stag E, Jiahe Galaxy Square, and Jiahe Taipo by June 29. After termination, the company will cease operating all cinema businesses in Hong Kong. Due to the early termination of these leases, the group expects to recognize non-recurring income of approximately 19 million Hong Kong dollars from reversing the provision for restoration costs and further non-recurring income of approximately 46 million Hong Kong dollars from lease modifications.