TOUYUN BIOTECH (01332), which had seen consecutive declines in previous trading sessions, surged over 80% intraday. At the time of writing, the stock was up 54.47% to HK$0.38, with a turnover of HK$12.06 million.

The rally follows the company's recent announcement that its wholly-owned subsidiary, Shanxi Touyun, signed strategic cooperation agreements on October 23 with Shenzhen Louyujian Supply Chain Technology, Henan Guozitou Marketing Management, and Beijing Hewanjia Biotechnology. Under the agreements, the purchasing consortium will procure chlorella and related products worth no less than RMB 1 billion from Shanxi Touyun between 2026 and 2028.

In November 2024, TOUYUN BIOTECH obtained new usage approval from China's National Health Commission for its chlorella products. The group's chlorella production has expanded into new applications, including artificial fish, shrimp, and plant-based milk markets.