HK Stock Market Move | COMBA (02342) rose by nearly 5% again, accumulating a total increase of more than 50% within the month. The company raised over HK$370 million in funding from Yilei and Intel.

COMBA (02342) rose by nearly 5% again, with a cumulative increase of over 50% within the month. As of the time of writing, it rose by 4.83% to 1.52 Hong Kong dollars, with a turnover of 74.3858 million Hong Kong dollars. On the news front, COMBA recently announced that the company will issue approximately 341 million new shares to two investors, Yilei and Intel, at a price of 1.09 Hong Kong dollars per share, raising approximately 372 million Hong Kong dollars. According to Securities Times, Yilei shares the same name as the son of the chairman of a listed Apple supplier, which has led to speculation about Yilei's identity in the market, but there is no further information about Yilei in the announcement. It is worth noting that COMBA recently issued a profit warning, expecting a loss of not more than 600 million Hong Kong dollars attributable to the owners of the parent company of the group for the year ending on December 31, 2024. The company stated that the comprehensive loss during the period was mainly due to delays in network capital projects by global telecommunications operators, resulting in a decrease in the group's revenue and gross profit for the year; the group actively dealt with related inventory write-offs; and the financial impact of approximately 160 million Hong Kong dollars from the termination of the proposed split of Kinsignal Networks and the independent listing of Kinsignal Networks' A shares on the Sci-Tech Innovation Board of the Shanghai Stock Exchange.