Fortune Sun (00352) surged nearly 70%, reaching an intraday high of HK$0.53, though still 75% below last week's peak of HK$2.2. As of press time, the stock was up 54.1% to HK$0.47 with trading volume of HK$14.78 million.

On the news front, Fortune Sun announced that the listing committee, after considering written and oral submissions from the company and the listing division, determined that Fortune Sun failed to maintain sufficient business operations and asset scale required under listing rules to ensure continued listing eligibility. Therefore, the committee upheld the listing division's decision to suspend trading of the company's shares.

The company has only operated real estate agency business since listing, with extremely small business scale over the past few years, raising concerns from the listing committee about the business's viability and sustainability.

According to the announcement, the company may submit the listing committee's decision to the listing review committee for review before September 8. If no review application is filed, share trading will be suspended from 9:00 AM on September 9. Until then, share trading will continue.

Previously, on June 13 this year, Fortune Sun received notice from the Hong Kong Stock Exchange indicating the company failed to maintain sufficient business operations as required by listing rules. On June 24, Fortune Sun announced it would submit the decision to the listing committee for review, allowing the company's shares to continue trading.