HK Stock Market Move | Tiangong International (00826) rose nearly 4% in the afternoon. Its subsidiary, Tiangong Gongfen, has started new stock subscription on the Beijing Stock Exchange on April 28th.

TIANGONG INT'L (00826) rose nearly 4% in the afternoon, up 2.91% at the time of writing, trading at 2.12 Hong Kong dollars with a turnover of 9.1013 million Hong Kong dollars. In terms of news, TIANGONG INT'L's holding subsidiary, Tiangong Shares (920068), has started the new stock subscription on the Beixiao Exchange on April 28th. It is reported that Tiangong Shares will issue up to 69 million new shares through placement and issuance, accounting for 10.52% of the expanded share capital. All funds raised in this listing will be used for the construction of a production line project for 3,000 tons of high-end titanium and titanium alloy rods and wire materials. After completion, the company's production capacity will increase from 7,000 tons to 10,000 tons. Northeast Pointed out that TIANGONG INT'L is a global leader in special steel, with its main business covering die steel, high-speed steel, cutting tools, and titanium alloys, with the four major businesses developing synergistically. The Bank believes that the company's nature as a high-end special steel manufacturer has been overshadowed by the traditional steel industry label, and its countercyclical properties have not been fully explored; the company is expected to benefit from the outbreak of demand for high-end manufacturing, positioning itself in high-end manufacturing with the dual advantages of "materials + technology", breaking the foreign monopoly.