HK Stock Market Move | HINSANG GROUP(06893) rose more than 63% once. The sale of related properties is at the indicative pricing stage.

HINSANG GROUP (06893) resumed trading this morning and surged by 63% at one point. As of the time of writing, it has increased by 47.96% and is trading at 0.145 Hong Kong dollars with a turnover of 2.6099 million Hong Kong dollars. On the news front, HINSANG GROUP announced that it has noticed several media reports stating that the group is selling a property in Sha Tin, Hong Kong, along with a parking space, and another property in Tsim Sha Tsui, Hong Kong, through property agents with indicative prices of 138 million Hong Kong dollars and 45 million Hong Kong dollars, respectively. The company confirmed that it is currently actively seeking opportunities to sell these properties through property agents, and it is currently only at the indicative price stage. The board of directors believes that these properties are not essential assets for the core business operations of the group, and the potential sale will not have a significant impact on the group's business operations. The board of directors believes that the potential sale provides the group with opportunities, including realizing cash and unlocking cash value to support the further development of the group, as well as saving all financing costs related to the group's outstanding bank loans, as some of the net proceeds from the potential sale are intended to be used to repay all outstanding bank loans of the group.