Shares of LUYUAN GP HLDG (02451) have surged against the broader market trend, rising over 24%. At the time of writing, the stock was up 23.21% to HK$11.89, with a trading volume of HK$21.71 million.

The company has announced that its controlling shareholder intends to transfer a 4.88% stake to Su Qingdong and Shi Qingliu. This transaction is designed to broaden the shareholder base and enhance the diversity of the ownership structure. Furthermore, it aims to leverage the buyers' business resources and networks in Southeast Asia to support the company's regional market expansion efforts.

It is noteworthy that Luyuan Group recently established a Southeast Asia supply integration center in Thailand. The company's target is to achieve annual sales of 50,000 vehicles through 200 sales channels by 2028, with the ambition of becoming the third-largest brand in the local market. Concurrently, the company has announced plans to set up an operational center in Singapore and has established a partnership with the local Kilats Group.