HK Stock Market Move | ZHEJIANGEXPRESS (00576) rose by over 3% recently, and plans to establish a joint venture company to engage in the investment, construction, and operation of low-altitude infrastructure.

ZHEJIANGEXPRESS (00576) rose more than 3%, with a gain of 3.17%, reaching 7.81 Hong Kong dollars, with a turnover of 58.1923 million Hong Kong dollars. On the news front, ZHEJIANGEXPRESS recently announced that the company has signed a cooperation agreement with the Technical Research Institute, the Data Intelligence Institute, Zhejiang Gaoxin, and the Business Group. According to this agreement, the company, the Technical Research Institute, the Data Intelligence Institute, Zhejiang Gaoxin, and the Business Group will jointly establish a joint venture company. This joint venture company will mainly focus on investment, construction, and operation of low-altitude infrastructure. The announcement stated that low-altitude economy has been established as a new emerging pillar industry in the 2026 Chinese government work report, with broad market prospects and rapidly expanding applications. At the same time, low-altitude economy is also a key development direction supported by the Zhejiang provincial government, and the establishment of the joint venture company is in line with Zhejiang's new industry layout plan. Signing the cooperation agreement will help leverage the resource advantages of each shareholder's full chain (including aircraft research and development, airspace planning and design services, low-altitude infrastructure construction and operation) to provide security for the scale development of the low-altitude industry.