HK Stock Market Move | Hangzhou Tigermed Consulting (03347) rises over 7%; Citi says regulatory uncertainty has been removed and maintains a positive view on the company's order growth and earnings visibility.

Hangzhou Tigermed Consulting (03347) rose over 7% in the afternoon. As of press time, it was up 7.63% at HK$44.64, with a turnover of HK$68.5271 million. On the news front, Citi issued a research report noting that last Friday Hangzhou Tigermed Consulting announced the results of the China Securities Regulatory Commission's investigation into Hangzhou Tigermed Consulting co-founders Ye Xiaoping and Cao Xiaochun, in which the Zhejiang Regulatory Bureau intends to issue a warning to Ye and Cao and impose a fine of RMB 500,000 on each of them. The investigation involved suspected violations of information disclosure obligations in relation to changes in their shareholdings in the company. The results were consistent with Citi's previous estimates and removed regulatory uncertainty. In addition, Citi maintained a positive view on Hangzhou Tigermed Consulting's order growth and earnings visibility, reiterating its "Buy" rating and top pick status.