HK Stock Market Move | MARKETINGFORCE(02556) fell nearly 20%, with its stock price halving in the past month. Prior to this, the company raised nearly HK$110 million through a rights issue.

MARKETINGFORCE (02556) fell nearly 20%, hitting a new low since May 30, 2024, at HK$69. The stock price has been cut in half in the past month. As of the time of writing, it dropped by 19.77% to HK$69, with a trading volume of HK$49.05 million. On the news front, MARKETINGFORCE previously announced that all conditions under the placing agreement have been met, and the placement was completed on December 27, 2024. A total of 1 million shares were successfully placed at a placing price of HK$110.00 per share to at least six placees, raising a net amount of approximately HK$109.5 million. Around 70% will be used for the research and development of AI large-scale model technology in the marketing and sales fields, including training the Tforce marketing field large-scale model, building an intelligent body middle platform, and commercial landing of the intelligent body in scenarios; approximately 30% will be used to supplement operating funds and general corporate purposes. It is reported that MARKETINGFORCE is the largest marketing and sales software as a service (SaaS) solution provider in China, with a market share of 3.0% in 2023. In the first half of 2024, the company achieved revenue of HK$739 million, a year-on-year increase of 26.7%, with SaaS revenue of HK$400 million, a year-on-year increase of 30.4%; and a net loss attributable to shareholders of HK$820 million, a year-on-year increase of 1,112.0%.