HK Stock Market Move | EEKA FASHION (03709) rises over 12%, declares special dividend of HK$0.82 per share, corresponding to a dividend yield of approximately 19.7%

EEKA FASHION (03709) rose over 12%, up 12.76% as of press time to HK$4.685, with turnover of HK$4.01 million. On the news front, EEKA FASHION announced on the evening of November 3 that it had resolved to declare and pay a special dividend of 82 HK cents per share from the company's share premium account. Based on the closing price of HK$4.155 on November 3, the dividend yield of this special dividend is approximately 19.7%. In a research report in September this year, Xiniu Securities noted that the company actively reduced costs in the first half but had not yet fully caught up with the pace of revenue contraction, and remained behind peers whose revenue and profit had both returned to a growth trajectory. Against the backdrop of an unclear pace of revenue recovery, it lowered its revenue and earnings forecasts, but the current valuation discount and dividend yield level provide defensive support for the share price.