Wai Yuen Tong (00897) surged more than 222%. As of press release, it rose 222.08% to HK$0.24, with a turnover of HK$5.79 million.
The Zhitong Finance App learned that Wai Yuen Tong (00897) soared by more than 222%. As of press release, it had risen 222.08% to HK$0.24, with a turnover of HK$5.79 million.
According to the news, Wai Yuen Tong and Hongan Group recently issued a joint announcement. On March 1, 2024, the seller Guangjun Development Co., Ltd. (an indirect wholly-owned subsidiary of Wai Yuen Tong) signed an interim agreement with the buyer Lee Wai-shing and the property agent Jinghua Property Agency Co., Ltd. The seller agreed to sell, and the buyer agreed to buy such properties at a cost of HK$41 million.
According to the announcement, these properties were purchased by the seller in 2008 and are currently used by Wai Yuen Tong Group to operate its own stores. After considering the current retail property market conditions and the quality of such properties (including the location, age, surrounding facilities and redevelopment potential of such properties), both Hongan Board of Directors and Wai Yuen Tong Board of Directors agree that the sale not only brings an opportunity for Hongan Group and Wai Yuantang Group to realize the value of such properties in due course, and that the proceeds from the sale are used to repay bank loans to reduce debts. At the same time, leasing back such properties allows Wai Yuantang Group to continue retail operations.
Debon Securities pointed out that currently pharmaceuticals are already in the medium- to long-term configuration window. Among them, traditional Chinese medicines have more outstanding cost performance, lower valuation, relatively good performance, and many potential catalysts. In the short term, it is recommended to continue to focus on small and medium capitalization stocks that have overfallen, lay out a quarterly report, and select medium- to long-term high-quality individual stocks. From a medium- to long-term perspective, innovation, going overseas, and traditional Chinese medicine are still the main investment lines. The domestic aging investment logic will continue throughout the next ten years, and related fields and individual stocks are worth allocating for a long time.