Baida Group to Lease Property to Hang Lung Properties' Unit

MT Newswires

Baida Group plans to lease the Hangzhou Department Store to a unit of Hang Lung Properties for 20 years, starting April 1, 2028, according to a Shanghai bourse filing on Friday.

Hang Lung Business Operation (HK) will pay 37.5 million yuan every quarter for renting the South and North buildings of the property in Hangzhou, Zhejiang Province, China, which will be used for commercial services, the facility management, transport and logistics company said.

Baida's shares grew 2%, while Hang Lung Properties' shares rose less than 2% during midday trade.

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Greater China Stocks Close Mixed; Taiwan Stocks Rise

Dow Jones Newswires

This article was automatically generated by Dow Jones using technology from Automated Insights.

Stocks in Greater China were mixed on Wednesday.

Hong Kong's stock exchange was closed, while China's Shanghai Composite Index was flat at 3393.35. The Taiwan Taiex index rose 0.4% to 23220.13.

Among large mainland China stocks, Dongguan Dingtong Precision Metal Co. Ltd. A was the biggest gainer during the session, surging 20%, and Hygon Information Technology Co. Ltd. A surged 11%. Baida Group Co. Ltd. A rounded out the top three movers on Wednesday, as shares surged 10%.

EFORT Intelligent Equipment Co. Ltd. posted the largest decline, dropping 20%, followed by shares of Hangzhou Raycloud Technology Co. Ltd. A, which dropped 10%. Shares of Dawei Technology (Guangdong) Group Co. Ltd. A dropped 10%.

In Taiwan, Calin Technology Co. Ltd. was the biggest gainer among large companies during the session, surging 10%, and EverFocus Electronics Corp. surged 10% Creative Sensor Inc. rounded out the top three movers, as shares surged 9.9%.

Evergreen Steel Corp. posted the largest decline, falling 4.3%, followed by shares of Cal-Comp Electronics (Thailand) PCL TDR, which fell 4.2%. Shares of Ta Liang Technology Co. Ltd. fell 3.0%.

On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.30 while the New Taiwan dollar weakened 0.1% against the U.S. dollar at NT$32.74.

Data source: Dow Jones Market Data, FactSet

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Baida Group to Lease Property to Hang Lung Properties' Unit

Greater China Stocks Close Mixed; Taiwan Stocks Rise

Risk Disclosure