HK Grey Market | Zhaowei Surges 20%; Alsco Pooling Jumps 17%; Estun Drops 10%

Chinese electromechanical parts provider Zhaowei Electromechanical jumped 20% in Hong Kong grey market trading.

Zhaowei Electromechanical is the largest provider of integrated micro transmission and drive system products in China and the fourth-largest globally (according to a Frost & Sullivan report), holding market shares of 3.9% and 1.4%, respectively. According to the Frost & Sullivan report, the global integrated micro transmission and drive systems market is highly fragmented. The company designs and manufactures micro transmission and drive system products as well as complementary components for these systems, primarily selling them to customers located in China and secondarily to overseas customers.

Chinese circular packaging service provider Alsco Pooling Service rose 17% in Hong Kong grey market trading.

Alsco manufactures foldable containers and boxes as well as metal racks and specialized containers that can be used by auto companies and later returned for reuse. Their foldability means they can be easily shipped to and from customers, and customers pay based on the number of times the packaging containing their products is circulated.

Chinese industrial robot maker Estun Automation dropped 10% in Hong Kong grey market trading.

Estun Automation engages in the provision of industrial robotic solutions. Its products include core automation components, motion control systems, industrial robots, intelligent manufacturing systems, and digital. The firm offers its solutions to lithium battery, photovoltaic, metal processing, automotive, electronics, building materials, packaging, electric vehicle, and engineering machinery industries. It operates through the Chinese Mainland and Overseas geographical segments. The company was founded by Bo Wu in March 1993 and is headquartered in Nanjing, China.