Changes in Hong Kong stocks | Zhuoyue Holdings (00653) rose more than 11% in the past five days, and plans to join forces with Ziyuan to develop new cross-border retail business

The Zhitong Finance App learned that Zhuoyue Holdings (00653) rose more than 11%, doubling its stock price in the past five trading days. As of press release, it rose 6.9% to HK$0.124, with a turnover of HK$4.275 million.

According to the news, Zhuoyue Holdings recently announced that the subsidiary Zhuoyue Supply Chain has signed a non-legally binding memorandum of understanding with Ziyuanyuan (08223). The two sides plan to carry out comprehensive strategic cooperation to achieve mutual benefit and win-win through complementary advantages, and jointly expand cross-border business and new retail markets. The cooperation includes exploring complementary advantages, jointly establishing new online and offline cross-border retail businesses in the Greater Bay Area, and possible business licensing cooperation.

According to the memorandum of understanding, the two sides will use their respective advantages in beauty retail and national operation and sales resources to explore cooperation in the fields of market development, product cooperation, equipment support, and talent exchange. The two sides intend to establish a joint venture to jointly establish a new cross-border retail business model within the Greater Bay Area. Furthermore, Zhuoyue Group intends to license some products and equipment to Ziyuan for sale in the Greater Bay Area. Specific cooperation is subject to the conclusion of a formal agreement before implementation.