HK Stock Market Move | CIRRUS (02507) fell by more than 7% at the beginning of trading. The controlling shareholder, China Aviation International Air, is selling approximately 4.78% of its shares in Hong Kong.

CIRRUS (02507) fell more than 7% in early trading, falling 5.06% to HK$41.25 with a turnover of HK$787 million at the time of writing. On the news front, CIRRUS announced that on July 3, its controlling shareholder, AVIC International Aviation Hong Kong, sold 17.5 million shares of the company through a block trade, representing approximately 4.78% of the total share capital, at an average price of HK$39.98 per share. Following the transaction, AVIC International Aviation Hong Kong's shareholding will decrease from approximately 84.97% to around 80.18%. The company believes that this move will not have a significant adverse impact on its operations, but will instead increase the public shareholding and market liquidity of the shares. Huachuang Securities previously pointed out that CIRRUS' controlling shareholder is AVIC International Aviation Hong Kong, which held 84.97% of the company's shares at the end of 24, and AVIC International Aviation Hong Kong is 100% owned by AVIC. The Aviation Industry Corporation of China (AVIC) holds 73.39% of AVIC International Aviation, making it the company's actual controller. The firm believes that the company is a leading enterprise in the general aviation aircraft manufacturing industry, with its flagship products consistently ranking first in market sales. They are optimistic about the company's future development: they see potential in the global general aviation aircraft manufacturing industry, with the company continuously expanding in the European and American markets; and they see potential in the Chinese general aviation market, which has huge potential, and they are looking forward to the company seizing the opportunity.