Hangzhou Jiuyuan Genetic Biopharmaceutical (HKG:2566) completed the conversion of all its 136.3 million unlisted shares into Hong Kong-listed shares on Thursday, according to a same-day bourse filing.
Shares of the firm were down over 1% in late morning trade on Friday.
The listing of and dealing in converted shares on the Hong Kong Stock Exchange began at 9:00 am on Friday.
Hongxing Coldchain (HKG:1641) said it invested 40 million yuan in idle funds in a wealth management product offered by Bank of Communications, according to a Thursday filing with the Hong Kong bourse.The cold chain logistics operator's shares fell nearly 3% in morning trade Friday.The product has a term of 42 days and an expected annualized return rate of 1% to 1.8%.
Scholar Education Group (HKG:1769) bought 600,000 of its shares from the open market, according to a Thursday filing with the Hong Kong bourse.The private education services firm's shares fell over 1% in morning trade on Friday.The shares were purchased for HK$1.32 on average and HK$792,000 in total.Scholar Education said its current share price "significantly undervalues" the business, representing a good opportunity to buy them back from the market.
Petro-king Oilfield Services (HKG:2178) said its Petro-king Oilfield Technology unit was ordered to pay 16.6 million yuan plus interest and court fees in a long-running litigation, according to a Thursday filing with the Hong Kong bourse.The oilfield technology services company's shares gained nearly 2% in morning trade Friday.Xinjiang Zhengtong Oil and Gas had filed the case against the company in January 2024 for disputes over technical service fees worth 28.9 million yuan. The claims related to fees for the provision of fracturing services, as well as interest accrued.Petro-king Oilfield said the latest ruling by the Shenzhen Intermediate People's Court of Guangdong Province will not have any material adverse impact on the business as the amounts were already accrued for and would have been paid under ordinary course of business operation.