HK Stock Market Move | CTIHK (06055) rises over 7%; new board chairman expected to usher in a new phase; institutions bullish on the company's bottoming-out and earnings recovery.

CTIHK (06055) rose over 7%, up 7.09% as of press time, at HK$25.38, with a turnover of HK$52.3739 million. On the news front, at the end of last month, CTIHK announced that Li Bin has been appointed as chairman of the board and non-executive director, and has also been appointed as chairman of the nomination committee, chairman of the strategic development committee, and a member of the remuneration committee. It is understood that Li Bin joined Guangdong China Tobacco in July 1992 and has worked in China's tobacco industry for 34 years. He has also served as the principal person in charge of two China Tobacco industrial companies, possessing extensive experience in tobacco enterprise management, multi-category product research and development, market operations, and international expansion. Shenwan Hongyuan Group believes that policy disruptions put phased pressure on the cigarette export business in the first half of the year, and it is bullish on a recovery in the second half. The leaf tobacco import and export business has a solid foundation, while businesses such as cigarette exports and new tobacco exports have promising growth potential, and it is bullish on the company's bottoming-out and earnings recovery. Cinda said the company has clearly stated that it will seize the opportunities of the 15th Five-Year Plan development and reform, leverage its advantages as a main entity for international market expansion and an investment and financing platform, and continue to be driven by both organic growth and external expansion, with steady growth expected in the future.