Hong Kong Stock Anomaly: FULLSHARE (00607) Surges 160% on Heavy Volume, Li Zubin Appointed Executive Director of C TRANSMISSION

Stock News
01/19

FULLSHARE (00607) experienced a significant surge on heavy trading volume this morning, soaring as much as 160%. At the time of writing, the stock was up 153.13% to HK$0.405, with a turnover of HK$4.8249 million. On the evening of January 16, C TRANSMISSION (00658) announced personnel changes, revealing the resignation of eight directors, including Hu Jichun who stepped down as Executive Director and Chairman, and the appointment of four new directors, all effective from January 16. The group appointed Li Zubin as an Executive Director, while Xie Wenjie, Lu Yuanzhu, and Liu Zhengyang were appointed as Independent Non-Executive Directors. Li Zubin is a director nominated by the group's controlling shareholder, FULLSHARE (00607). Market analysis suggests the battle for control of C TRANSMISSION has been protracted. In November 2024, overdue receivables totaling RMB 6.64 billion from C TRANSMISSION's subsidiaries (Nanjing Transmission, Nanjing Handa, Nanjing Shengzhuang) led to a criminal case filing; the investigation and handling approach led by the former board drew shareholder skepticism, becoming a key catalyst for this board reshuffle.

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