HK Stock Market Move | Red Avenue New Materials Group (09607) Rebounds Over 6% on Second Day of Listing; Actual Controller Plans to Increase Holdings by Up to 13 Million H Shares

Red Avenue New Materials Group (09607) rebounded over 6% on the second day of listing, rising 5.05% as of press time to HK$42, with turnover of HK$27.5214 million. On the news front, Red Avenue New Materials Group announced that actual controller and chairman ZHANG NING plans to increase his holdings of the company's H shares through the Hong Kong Stock Exchange system by way of centralized bidding using his own funds or self-raised funds within 12 months from September 30, 2026, with the increase ranging from 6.5 million to 13 million shares. This increase plan does not set a price range and will be implemented opportunistically based on the company's stock price fluctuations and overall capital market trends. Red Avenue New Materials Group was officially listed on the Hong Kong Stock Exchange on September 29, closing down over 9% on its first day of trading. It is understood that the company's business covers three major segments: rubber additives for tires and other chemical products, electronic materials, and fully biodegradable materials. On the day before listing, Phillip's grey market once saw an extreme quote of HK$0.985 during intraday trading, a flash crash of about 98% from the issue price, with market analysts saying a "fat finger" error may have occurred.