HK Stock Market Move | INKEVERSE (03700) rose more than 6% intraday, with Kunlun Tech's shareholding increasing by over 15%. The company's performance in the short video sector is outstanding.

INKEVERSE (03700) rose more than 6% during trading, with the stock price rising by over 1.2 times since early November. As of the time of writing, it had risen by 4.72% to 2.22 Hong Kong dollars, with a trading volume of 25.5738 million Hong Kong dollars. On the news front, INKEVERSE recently received multiple increases in holdings from Kunlun Tech. The latest information from the Hong Kong Stock Exchange shows that on December 17, Kunlun Group Limited increased its holdings in INKEVERSE by 20 million shares at a price of 2.1562 Hong Kong dollars per share, totaling 43.124 million Hong Kong dollars. The latest number of shares held after the increase is approximately 293 million shares, with the latest shareholding ratio at 15.12%. Soochow mentioned earlier that Kunlun Tech's AI short film platform SkyReels was launched in the United States on December 10, further expanding the global AI entertainment market. INKEVERSE has a solid fundamental outlook, with growth potential in new businesses. The company achieved a revenue of 3.5 billion in the first half of 2024, a year-on-year increase of 13%, with outstanding performance in the short film sector. The company has ample cash on hand and plans to invest in cryptocurrencies to optimize asset allocation and promote the development of WEB3.0 business.