HK Stock Market Move | YEAHKA (09923) falls by more than 8% again, with a cumulative decline of about 35% within the month. The company recently conducted a discounted rights issue, raising net proceeds of HK$1.89 billion.

YEAHKA (09923) fell by over 8% again, with a cumulative decline of nearly 35% this month. As of the time of writing, it fell by 7.48% to HK$8.04, with a trading volume of HK$43.278 million. In terms of news, YEAHKA previously announced that it plans to offer a 9% discount on the sale of 19.15 million shares, equivalent to expanding the share capital by approximately 4.14%. The group expects to raise approximately HK$189 million from the sale, with about 40% to be used to expand the overseas footprint of the group's various business units in Asia; about 40% to be used for investment in research and development, including the use of artificial intelligence in proprietary software to strengthen the competitiveness of the group's commercial digital ecosystem; and about 20% for operating funds and general company purposes.