HK Stock Market Move | Red Star Cold Chain (01641) rose by more than 15% during trading hours, with the country clarifying the development plan for cold chain logistics. The company is focusing on the central cold chain market.

Hongxing Cold Chain (01641) rose more than 15% during the day, and as of press time, it rose by 10.21% to 9.5 Hong Kong dollars, with a turnover of 841.83 million Hong Kong dollars. In terms of news, the previous "14th Five-Year Plan" for the development of cold chain logistics clearly stated the need to improve cold chain infrastructure and build a national cold chain network. Hunan Province, as a trading and transportation hub for frozen food in the central region, directly benefits from this policy. It is worth noting that, according to the prospectus of Hongxing Cold Chain, approximately 57.5% of the proceeds from this IPO will be used to increase production capacity to meet the growing market demand in the central region. Around 19.7% will be used for potential strategic acquisitions and partnerships to transform the company from a regional cold chain enterprise to a comprehensive cold chain service provider covering a wider area with more integrated services. Approximately 12.8% will be invested in intelligent upgrades to continuously improve operational efficiency and help the company maintain its high gross margin advantage.