HK Stock Market Move | CHINAHONGQIAO(01378) opens more than 3% higher, Shandong Hontron Aluminum Industry Holding's acquisition and reorganization plan passed, planning to acquire 100% equity of Hongtuo Industry.

CHINAHONGQIAO (01378) opened more than 3% higher, rising 3.32% by the time of publication to 32.4 Hong Kong dollars, with a turnover of 124.92 million Hong Kong dollars. On the news front, CHINAHONGQIAO announced that Shandong Hontron Aluminum Industry Holding has obtained approval from the Shenzhen Stock Exchange Merger and Reorganization Review Committee for the issuance of shares to purchase assets and related party transactions. According to the plan previously announced by Shandong Hontron Aluminum Industry Holding, they intend to issue shares to purchase 100% equity of Hongtuo Industrial held by Weiqiao Aluminum Electricity, Jiahui Investment, Dongfang Asset Management, with a transaction price of 63.5 billion yuan. Public information shows that Shandong Hontron Aluminum Industry Holding is a subsidiary of CHINAHONGQIAO Holdings. This transaction is a measure for CHINAHONGQIAO's core aluminum assets to return to the A-share market, helping to strengthen the internal integration of aluminum assets and further enhance the comprehensive competitiveness of the enterprise through the capital market.