HK Stock Market Move | FEIYANG GROUP (01901) stocks rose more than 5%, the group is expanding into digital business scenarios as the holiday season approaches and the tourism market heats up.

FEIYANG GROUP (01901) rose more than 5%, at the time of publication, it rose by 6.67% to HK$0.40, with a turnover of HK$5.7194 million. On the news front, recently, FEIYANG GROUP's wholly-owned subsidiary Zhejiang Feiyang International Tourism Group Co., Ltd. signed a "Strategic Cooperation Framework Agreement" with the Qingdao Culture Copyright Trading Center on potential cooperation in the digitalization of cultural tourism assets. The key cooperation areas include jointly building a digital trading platform for tourism assets, jointly carrying out digital development and IP incubation of cultural tourism resources, jointly researching the application of digital technology in the certification and trading of cultural tourism assets, and exploring innovative business models for expanding digital asset trading in Hong Kong and overseas. It is expected that the cooperation will bring positive impact to the Group's expansion of digital business scenarios and enhancement of asset operation efficiency. In addition, with the Mid-Autumn Festival and National Day holidays approaching, the tourism sector is paying attention to holiday catalysts. Guosen Securities International released a research report stating that it is expected that during the National Day holiday, domestic tourism revenue per capita and average daily number of tourists could increase by 7.0% and 8.3% respectively compared to the same period last year. The key indicator for the National Day holiday is still the recovery progress of per capita spending, and if it performs better than expected, it may lead to optimistic sentiment in the sector.