HK Stock Market Move | SKYWORTH GROUP (00751) rose by more than 5% again, the photovoltaic sector plans to be spun off and listed, with potential to fully reflect the value of new energy business assets.

SKYWORTH GROUP (00751) surged 37% yesterday and rose over 5% in early trading today. As of the time of writing, it has increased by 4.92% to 7.47 Hong Kong dollars with a trading volume of 51.6288 million Hong Kong dollars. On the news side, on January 20th, SKYWORTH GROUP announced that the board of directors has decided to privatize the company and simultaneously spin off its photovoltaic business sector as Skyworth Photovoltaic for independent listing. Zhongjin Research Report stated that Skyworth Photovoltaic, as a leading distributed photovoltaic development company, is expected to transform into a global energy service provider. The bank pointed out that according to the company's announcement, if cash consideration is chosen, combined with the distributed Skyworth Photovoltaic shares, the theoretical total value per planned share is approximately 10.16 Hong Kong dollars. The bank believes that the spin-off listing is expected to fully reflect the value of Skyworth Photovoltaic's new energy business assets and establish an independent financing platform to support the expansion of energy storage business.