Changes in Hong Kong stocks | China Hongqiao (01378) opens more than 3% of Hongchuang Holdings's merger, acquisition and restructuring meeting to acquire 100% of Hongtuo Industrial's shares

The Zhitong Finance App learned that China's Hongqiao (01,378) opened more than 3% higher. As of press release, it rose 3.32% to HK$32.4, with a turnover of HK$12.4092 million.

According to the news, China's Hongqiao issued an announcement that Hongchuang Holdings issued shares to purchase assets and related transactions were reviewed and approved by the Shenzhen Stock Exchange M&A and Reorganization Review Committee. According to the plan previously announced by Hongchuang Holdings, Hongchuang Holdings plans to issue shares to purchase 100% of Hongtuo Industrial's shares held by Weiqiao Aluminum, Jiahui Investment, Oriental Asset Management, etc., at a transaction price of 63.5 billion yuan.

According to public information, Hongchuang Holdings is a subsidiary of China Hongqiao Holdings. This transaction is an initiative for China's Hongqiao's core aluminum assets to return to A-share listing. It helps strengthen the internal integration of aluminum assets, and can further enhance the overall competitiveness of the enterprise through the capital market.