HK Stock Market Move | XTALPI-P(02228) rose over 11% against the market trend. The company recently raised over 1.1 billion Hong Kong dollars in net placement, exceeding the total amount raised in its IPO.

XTALPI-P (02228) rose more than 11% against the market, with an 8.99% increase at the time of writing, reaching HKD 4.85, with a turnover of HKD 3.05 billion. On the news front, on January 19th, XtalPi Technology announced that on January 18th, the company successfully raised approximately HKD 1.13 billion by placing a total of 264 million shares. It is worth noting that the fundraising amount from this placement exceeds the amount raised from its IPO. The company went public on the main board of the Hong Kong Stock Exchange on June 13, 2024, raising HKD 9.89 billion, plus additional fundraising from exercising excess share option, totaling approximately HKD 10.36 billion. Furthermore, XtalPi Technology recently announced a partnership with the National Cancer Centre, Singapore (NCCS) and Duke-NUS Medical School, Singapore, to collaborate on AI-driven drug discovery. They plan to use their AI and automation-driven peptide R&D platform to discover and design clinical candidate drugs targeting a newly identified target for clear cell renal carcinoma by NCCS, and to share subsequent commercialization results with their partners. In addition, the company has formed a strategic partnership with Microsoft China to explore innovative applications of AI, big models, Siasun Robot & Automation Lab, and other cutting-edge technologies in the fields of biomedicine and materials science, ushering in a new chapter in research, education, and innovation applications.