CTF Services (00659) saw its share price rise 4.44% in early trading, currently trading at HK$8.47 with a turnover of HK$47.58 million.

CTF Services recently released its full-year results for the period ending June, showing shareholders' attributable profit increased 4% to HK$21.62 billion. A research report indicates that CTF Services' second-half recurring profit grew 18% year-on-year to HK$1.4 billion, performing 19% above expectations due to higher contributions from the company's strategic investments. The final dividend of HK$0.35 remained flat year-on-year, broadly in line with expectations, and the company also proposed a bonus share distribution of one for every ten shares held.

Additionally, CTF Services announced plans to issue HK$2.218 billion worth of 0.75% exchangeable bonds due in 2028, with the exchange property being approximately 10.0% of the issued share capital of First Shanghai Holdings that it holds. Upon completion of the transaction, CTF Services will exit its investment in First Shanghai Holdings. Investment analysts view this transaction as an important opportunity for First Shanghai Holdings to further optimize its shareholding structure, and upon completion, First Shanghai Holdings' liquidity will be significantly improved.