HK Stock Market Move | Shanghai Electric Group (02727) surged over 7% at one point after investing 30.82 billion yuan to acquire Fanuc Siasun Robot & Automation.

Shanghai Electric Group (02727) once rose more than 7%, and as of the time of the report, it was up 5.44%, trading at 3.1 Hong Kong dollars, with a turnover of 560 million Hong Kong dollars. On the news front, Shanghai Electric Group previously announced plans to spend 30.82 billion yuan to acquire a 50% stake in Siasun Robot&Automation held by its holding platform Ningsheng Industrial. Shanghai Electric Group Chairman Wu Lei said at a communication meeting earlier that the acquisition of Siasun Robot&Automation is a proactive response to the new "Nine National Policies," optimizing and strengthening the main responsibilities and main industries of state-owned enterprises. It is an important measure to improve development quality through comprehensive use of mergers and acquisitions, restructuring, and other methods, focusing on enhancing core functions, improving core competitiveness, and deepening the practice of building leading enterprises in the chain.