Hong Kong Stock Movement | CHINA LESSO (02128) Rises Over 6% as Institutions are Optimistic about Municipal Plastic Pipe Demand Driven by Pipeline Renovation

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CHINA LESSO (02128) experienced a surge of over 6%, reaching a gain of 6.67% at HK$4.8, with a trading volume of HK$32.3691 million as of the time of reporting. On October 24, during a press conference held by the Central Committee of the Communist Party of China to introduce and interpret the spirit of the party's 20th Central Committee's Fourth Plenary Session, Zheng Zhanjie, Secretary of the Party Leadership Group and Director of the National Development and Reform Commission, announced that over 700,000 kilometers of underground pipeline renovation are expected during the 14th Five-Year Plan period, with new investment needs exceeding 5 trillion yuan. A previous report from Huatai Securities pointed out that the pipeline renovation segment is likely to stimulate demand for municipal plastic pipes. Coupled with steady growth in first industry investment over the past two years and the performance of CHINA LESSO in the agricultural plastic pipe sector, the company is expected to benefit significantly given its high market share in engineering projects.

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