Hongxing Cold Chain (01641) surged over 15% during the trading session. As of the time of writing, it was up 10.21%, trading at HKD 9.5, with a turnover of HKD 8.4183 million.
According to Zhitong Finance APP, Red Star Cold Chain (01641) surged over 15% during the trading session. As of the time of writing, it was up 10.21%, trading at HKD 9.5 with a turnover of HKD 8.4183 million.
In terms of news, the previously released '14th Five-Year Plan for Cold Chain Logistics Development' explicitly proposed improving cold chain infrastructure and building a nationwide cold chain network. Hunan Province, as a frozen food trading hub and transportation hub in central China, is directly benefiting from this policy dividend.
It is worth noting that according to the prospectus disclosed by Red Star Cold Chain, approximately 57.5% of the proceeds from this IPO will be used to increase production capacity in response to the growing market demand in central China. Another approximately 19.7% will be allocated for potential strategic acquisitions and collaborations, driving the company's transformation from a regional cold chain enterprise into an integrated cold chain service provider covering a broader area in central China with more comprehensive services. Additionally, about 12.8% will be directed towards intelligent upgrades to continuously improve operational efficiency and help maintain the company's high gross margin advantage.
