HK Stock Market Move | FULLSHARE (00607) surged 160% with high trading volume, Li Zubin appointed as executive director of C TRANSMISSION.

FULLSHARE (00607) surged sharply this morning, with the stock rising by as much as 160% at one point. As of the time of writing, it had risen by 153.13% to 0.405 Hong Kong dollars, with a trading volume of 4.8249 million Hong Kong dollars. On the news front, on the evening of January 16, C TRANSMISSION announced changes in its board of directors, with 8 directors resigning, including Hu Jichun resigning as executive director and chairman. Four new directors were appointed, all effective from January 16. The group appointed Li Zubin as executive director, and Xie Wenjie, Lu Yuanzhu, and Liu Zhengyang were appointed as independent non-executive directors. Li Zubin was recommended as a director by FULLSHARE (00607), the controlling shareholder of the group. Market analysis indicates that there has been a long-standing power struggle over the control of C TRANSMISSION. In November 2024, C TRANSMISSION (Nanjing Transmission, Nanjing Handa, Nanjing Shengzhuang) had over 6.64 billion yuan of overdue receivables and was criminally prosecuted. The investigation and disposal led by the original board of directors raised shareholder doubts, becoming a key trigger for the reshuffle of the board of directors this time.