HK Stock Market Move | COMBA (02342) surged over 8% in morning trading. The company issued shares to Yilei and Intel, raising approximately HK$372 million in net proceeds.

COMBA (02342) rose more than 8% in early trading, rising 7.41% to HK$1.16 as of press time, with a turnover of HK$144.973 million. In terms of news, COMBA recently announced that it will issue approximately 341 million new shares to two investors, Ocean Link Investment Limited (ultimately owned by Lei Yi) and Intel, at a price of HK$1.09 per share, raising approximately HK$372 million. According to Securities Times, Lei Yi shares the same name as the son of the chairman of a listed Apple supplier, which has led to speculation about Lei Yi's identity in the market, but there is no further information about Lei Yi in the announcement. In addition, COMBA previously issued a profit warning, expecting a loss of no more than 600 million RMB for the year ending December 31, and achieving a net profit of approximately 6.7 million RMB in 2023. The COMBA board believes that the company maintains a strong financial position and sufficient operating capital. The company has optimized its organizational structure, adjusted its management team, and reduced staff, making overall costs more reasonable and efficiency improved. International orders have significantly increased, and domestic orders have also begun to recover. Looking ahead, new products and business are poised for growth.