HK Stock Market Move | STAR SHINE HLDG (01440) surged over 11% after being included in the Hang Seng Composite Index. The company expects to turn a profit in the first half of the year.

STAR SHINE HLDG (01440) surged over 11%, and as of the time of writing, it rose by 11.76% to HKD 13.27, with a trading volume of HKD 26.6096 million. In news, the Hang Seng Index Company announced the semi-annual index adjustment results on August 21, in which STAR SHINE HLDG was included in the Hang Seng Composite Index. The changes will be implemented after the market closes on September 4 and take effect from September 7, at which point the Shanghai and Shenzhen exchanges will accordingly adjust the scope of investable stocks under the Hong Kong Stock Connect. STAR SHINE HLDG may be added to the Hong Kong Stock Connect as it meets a series of criteria, including market capitalization and liquidity. It is worth mentioning that STAR SHINE HLDG previously issued a profit warning, expecting a net profit of no less than approximately RMB 24 million for the first half of this year, turning a profit compared to the previous year. This is mainly due to the strong performance of the intellectual property (IP) merchandise division and the group's fair value gains from investments of no less than approximately RMB 27 million.