HK Stock Market Move | CHINA AOYUAN (03883) climbs over 30% again, Middle Eastern institution Multi Gold takes over the company, founder retires as chairman.

CHINA AOYUAN (03883) surged by 127% yesterday and rose by over 30% in early trading today. As of the time of writing, it is up 18.52%, trading at 0.32 Hong Kong dollars with a turnover of 26.9686 million Hong Kong dollars. CHINA AOYUAN has announced the introduction of a strategic investor. Major shareholder Ace Rise has transferred 621 million shares to Multi Gold. After the completion of the transfer, Multi Gold will become the largest single shareholder of the company, holding 16.48% of the shares; Ace Rise's stake will decrease to 13.31%. It is reported that Multi Gold Group is a professional investment institution in the United Arab Emirates, with influential local family members participating in its management structure. The announcement stated that the sole director and ultimate beneficial owner of Multi Gold, Alobeidli, has been appointed as a non-executive director and chairman of the board; Mr. Guo has been transitioned from an executive director to a non-executive director and no longer serves as chairman of the board, chairman of the nomination committee, or authorized representative, effective immediately.