HK Stock Market Move | HIPINE (02583) opens over 5% higher after controlling shareholder and major shareholder make voluntary non-reduction commitment.

HIPINE (02583) opened over 5% higher, up 5.36% as of press time at HK$59, with a turnover of HK$1.6225 million. On the news front, on October 30, HIPINE issued an announcement stating that based on its long-term firm optimism about the company's business growth potential, core competitiveness and industry development prospects, and in order to maintain the stability of the company's share price and capital market confidence, and to safeguard the legitimate rights and interests of all shareholders of the company, especially minority shareholders, each controlling shareholder and major shareholder Jinyingu Investment has made a voluntary non-reduction commitment to the company that, within the twelve (12) month period commencing from the date of this announcement, it will not directly or indirectly reduce its holdings of any H shares it holds in any manner. The board of directors believes that the voluntary non-reduction commitment reflects that each controlling shareholder and Jinyingu Investment recognize the group's long-term value and their commitment to the company's sustainable development, which is in the overall interests of the company and all shareholders.