HK Stock Market Move | TRENDZON HLDG (01865) rose more than 4% in the afternoon, the group plans to diversify its services and expand its business portfolio.

TRENDZON HLDG (01865) rose more than 4% in the afternoon, up 4.51% to HKD 0.255 at the time of writing, with a turnover of HKD 3.6465 million. On the news front, TRENDZON HLDG announced that on December 17, 2024, the company entered into a memorandum of understanding with Central Asia Equity Investment Fund Management (Shenzhen) Co., Ltd. (the Seller) to acquire 51% equity interest in Xinjiang Industrial Park Management (Guangdong) Co., Ltd. It is reported that the target company is mainly engaged in the management of pumped storage energy stations, intelligent manufacturing, rooftop photovoltaics, custom inverter factories, and custom junction box factories. The announcement stated that the group plans to diversify its services and expand its business portfolio. The acquisition of Xinjiang will help the group develop its energy and intelligent manufacturing businesses, strengthen its presence in the energy and intelligent manufacturing sectors, and become a major player in the clean energy market. The Board of Directors believes that the new business will significantly advance the group's strategic initiatives in the energy and intelligent manufacturing sectors. This move is expected to strengthen the group's capabilities in clean energy and position it as a leader in the transition to sustainable energy solutions.