HK Stock Market Move | BAIGE DIGITAL (02672) surged over 9% in late trading; the board approved a proposed full circulation of H shares, involving the conversion of 170 million domestic shares.

BAIGE DIGITAL (02672) rose over 9% in late trading, accumulating a gain of more than 27% within the month. As of press time, it was up 8.72% at HK$70.45, with a turnover of HK$45.029 million. On the news front, BAIGE DIGITAL recently announced that on September 28, the board of directors had reviewed and approved a proposed implementation to convert 170 million unlisted shares held by five domestic share shareholders of the company into H shares of the company, accounting for approximately 52.91% of the company's total issued share capital as of the date of the announcement. As of the date of the announcement, the company had not yet submitted filing application documents to the China Securities Regulatory Commission for the full circulation of H shares. Public information shows that BAIGE DIGITAL's main business is internet insurance transaction services. SDIC Securities International pointed out that premium growth for scenario-based insurance is faster than the broader internet insurance market, and long-tail scenarios such as food delivery, cross-border logistics, and equipment leasing still have room for sustainable expansion of downstream cooperation platforms; with insurance as its foundation, the company is expanding marketing and digital solution services, which may contribute incremental revenue and offer potential for business transformation.