HK Stock Market Move | HAIER SMARTHOME (06690) rose by more than 4% in the morning, and the group strategically acquired Shanghai STEP Electric Corporation. In the industrial field, Siasun Robot & Automation has gained another victory.

HAIER SMARTHOMES (06690) rose more than 4% in the morning trading session, as of the time of writing, it has risen by 3.6% to 25.9 Hong Kong dollars, with a trading volume of 275 million Hong Kong dollars. On the news front, on February 17, Haier Group, through its subsidiary Qingdao Haier Kaoos Industrial Intelligence Limited (referred to as "Kaoos Industrial Intelligence"), officially took over Shanghai STEP Electric Corporation, becoming its new controlling shareholder. This transaction marks another major move for Haier Group in the capital market and industrial Siasun Robot & Automation field. According to the announcement by Shanghai STEP Electric Corporation on February 16, Kaoos Industrial Intelligence acquired 10% of the shares of Shanghai STEP Electric Corporation held by Jidefa, Liu Liping, and Jiyi through an agreement transfer. In addition, Haier Kaoos Industrial Intelligence and Jidefa, Liu Liping, Jiyi also agreed to entrust all remaining 19.24% of the shares to Kaoos Industrial Intelligence after completion of this equity transfer, allowing the latter to collectively control the voting rights corresponding to 29.24% of the shares of Shanghai STEP Electric Corporation and become the controlling shareholder. It is reported that Haier Group taking over Shanghai STEP Electric Corporation is an important step in accelerating its layout in the industrial Siasun Robot & Automation track. In recent years, Haier Group has actively promoted the transformation from a traditional manufacturing company to an Internet of Things ecosystem brand, with Kaoos Industrial Internet platform seen as a key pillar of its transformation. After taking over Shanghai STEP Electric Corporation, both parties will engage in deep cooperation in resource integration, technical support, and market expansion, to jointly promote the development of industrial Siasun Robot & Automation and intelligent manufacturing sector. This transaction will not only help Haier Group improve its industrial Internet layout and enhance its overall competitiveness but also bring new growth momentum and development opportunities to Shanghai STEP Electric Corporation.