CHINA QINFA (00866) surged over 17% during the session, and as of this report, it is up 13.93% at HKD 1.39, with a transaction amount of HKD 11.8599 million.
Zhichun Finance APP learned that CHINA QINFA (00866) soared over 17% during intraday trading. As of the time of writing, it rose by 13.93%, trading at HKD 1.39, with a turnover of HKD 11.8599 million.
On the news front, according to documents disclosed by the Hong Kong Stock Exchange, on December 30, 2024, Zhai Yifeng increased his shareholding by 32 million ordinary shares, valued at approximately HKD 37.76 million. After the increase, Zhai Yifeng's Hold Positions ratio rose from 0.08% to 1.34%. In addition, the company recently announced that it will distribute a special dividend of HKD 0.02 per share on January 24, 2025.
It is noteworthy that CHINA QINFA recently completed the sale of a 40% stake in Liyuan Development. Guosheng Securities pointed out that with the smooth completion of the equity transfer, it is believed that CHINA QINFA's balance sheet is expected to improve significantly, and the noticeable optimization of interest-bearing liabilities will also significantly reduce the company’s financial expenses, and thus is expected to enhance the company's annual profits, laying the foundation for future development of the remaining mining areas in Indonesia.