CONCORD HC GP (02453) rebounded over 5% today. The stock was formally removed from the Stock Connect program on September 8, and has declined more than 30% over the past four trading sessions. As of press time, the stock was up 5.57% to HK$3.22, with turnover of HK$7.7041 million.

On the news front, CONCORD HC GP announced this morning that the company has been informed by its controlling shareholder, Concord Medical Services Holdings Limited (CCM), that CCM plans to increase its shareholding in the company within 12 months from this announcement. The company has been informed that to conduct the share increase, CCM will purchase shares through its subsidiaries using its own funds in the open market, with specific increase transactions to be disclosed in a timely manner according to regulations.

The announcement stated that the share increase plan aims to consolidate CCM's controlling position, increase CCM's shareholding ratio, and convey to the market positive information that the controlling shareholder is confident about the group's future prospects and long-term development.