HK Stock Market Move | SF INTRA-CITY (09699) rose over 7% in the afternoon, after S.F. Holding increased its stake by 45.844 million shares, raising its shareholding ratio to 63.48%.

SF INTRA-CITY (09699) rose over 7% in the afternoon. As of press time, it was up 6.03% at HK$9.055, with a turnover of HK$419 million. On the news front, SF INTRA-CITY announced that it received an increase in shareholding of 45.844 million shares from CelestialOceanInvestmentsLimited, a subsidiary of S.F. Holding (06936), representing approximately 4.9973% of the company's total issued share capital. Following this increase, S.F. Holding's direct and indirect shareholding ratio rose to approximately 63.48%. The announcement noted that the company continues to meet the public float requirement under the Listing Rules; the board believes that this increase reflects the controlling shareholder's firm confidence in the company's business prospects and long-term value, and there is currently no plan to reduce its holdings. CICC stated that the company's intra-city delivery business revenue growth remains resilient, and the last-mile business is expected to recover in the second half of the year. It is bullish on the company maintaining high profit growth; the company has launched an H-share repurchase plan with a cap of HK$400 million, and the repurchased shares will be cancelled in due course, demonstrating management's confidence.