HK Stock Market Move | Shenzhen Invest (00604) surged over 22%, reports say Oaktree Capital and two other institutions have joined the group of overseas creditors of Road King Infra.

SHENZHEN INVEST (00604) surged more than 22%, as of the time of publication, it rose by 20.93% to 1.04 Hong Kong dollars with a trading volume of 66.9849 million Hong Kong dollars. On the news front, on October 22, it was learned from sources that, including Oaktree Capital, three institutions have joined a group of creditors holding the foreign debt of ROAD KING INFRA (AHG). It is reported that the group holds more than 600 million US dollars, exceeding 25% of ROAD KING INFRA's foreign bonds and perpetual bonds. It is reported that on August 14 this year, Hong Kong developer ROAD KING INFRA announced in an insider information announcement that it will suspend the repayment of all offshore bank debts, notes, and perpetual securities and all due principal and interest. Due to ROAD KING INFRA's debt default, SHENZHEN INVEST conducted impairment testing on its investment in ROAD KING INFRA, and recognized a total impairment loss of 1.806 billion Hong Kong dollars as at June 30, 2025. In addition, Shenzhen has issued a notice on the "Action Plan for Promoting Mergers and Acquisitions and Restructuring for High-Quality Development of Shenzhen (2025-2027)". It aims to break through a total market value of over 20 trillion yuan for domestic and foreign listed companies by the end of 2027, fostering the development of twenty companies with a market value of over one trillion yuan.