HK Stock Market Move | CHINA RUYI (00136) drops over 4% again. Prior to this, the company issued new shares at a discount and acquired the equity of the developer of Tencent's "QQ Dancing" game with cash.

CHINA RUYI (00136) fell over 4% again, down 4.05% to HK$2.37 as of press time, with a turnover of HK$68.6328 million. On the news front, CHINA RUYI recently announced that it will acquire 30% equity in Beijing Yonghang Technology from its major shareholder Tencent. The core assets of Yonghang Technology include ARVR games such as "QQ Dance", "QQ Dance 2" and "QQ Dance Mobile", with a total consideration of RMB 825 million, including RMB 743 million in cash; and payment through the issuance of 36.6666 million shares at a price of HK$2.432, a discount of 2.72% compared to the closing price on January 13. After completion, Tencent's shareholding in the company will increase from 17.75% to 17.97%.