HK Stock Market Move | HAO TIAN INTL (01341) quickly rose in the afternoon before dropping by more than 9%, possibly due to strategic collaboration with Jiangsu Lettall Electronic in the field of AI computing power.

HAO TIAN INTL (01341) surged more than 11% in the afternoon, but then quickly dropped over 9%. At the time of writing, it was down 5.32% at HK$0.89, with a turnover of HK$148 million. On the news front, HAO TIAN INTL announced at noon that on February 7, 2025, it entered into a non-legally binding strategic cooperation framework agreement with Jiangsu Lettall Electronic Co., Ltd. ("Jiangsu Lettall Electronic") regarding potential strategic cooperation in the field of AI computing power. The announcement stated that both parties intend to establish a joint venture company to develop AI computing resources and 5G big data-related businesses in Southeast Asia, including but not limited to computing power business, related technical consulting, business planning, logistics, trade, etc. It also includes establishing an international advanced Artificial Intelligence Data Centre (AIDC) in Malaysia and/or Singapore. Jiangsu Lettall Electronic will be responsible for providing relevant configurations and hardware, and offering professional development, technical, and operational teams.