HK Stock Market Move | IMOTIONAUTOTECH (01274) opens at more than 3% increase; controlling shareholder and senior executives voluntarily restrict sales; recently raised over 200 million to enhance autonomous driving research and development capabilities.

IMOTIONAUTOTECH (01274) opened more than 3% higher, rising 3.13% to HK$23.1 by the time of writing, with a trading volume of HK$0.9055 million. In terms of news, IMOTIONAUTOTECH announced that the Chairman, CEO, Executive Director and controlling shareholder, Song Yang, Executive Director Li Shuangjiang, and Supervisor and Chairman of the Supervisory Board Luo Hong have voluntarily committed not to sell any of their directly held shares in the company for 12 months from February 13, 2025. The announcement stated that as of the announcement date, the total number of shares subject to the sales restriction commitment held by them is 65.9752 million shares, accounting for approximately 28.59% of the company's issued shares. It is worth noting that IMOTIONAUTOTECH recently announced a rights issue fundraising, with net proceeds of approximately HK$228 million. 60% of the proceeds are intended for the enhancement of advanced smart driving, cockpit integrated solutions and product development, 10% for capital expenditures related to improving research and development facilities and production facilities, 5% for expanding overseas sales and service networks, and 25% for operating funds and general corporate purposes.