HK Stock Market Move | GLOBAL NEW MAT (06616) rose by more than 3% recently, Chongqing International plans to inject 500 million yuan into its subsidiary Seven Color Deer Valley.

GLOBAL NEW MAT (06616) rose by more than 3%, up 3.93% as of the time of writing, at 3.42 Hong Kong dollars, with a turnover of 11.524 million Hong Kong dollars. On the news front, GLOBAL NEW MAT announced that on May 24, 2025, Qise Lu Village (an indirectly non-wholly-owned subsidiary of the company) and Chongqing International (acting on behalf of a trust) signed a capital increase agreement. According to the agreement, Chongqing International agreed to inject 500 million yuan into Qise Lu Village, of which 131.159 million yuan will be used to increase its registered capital and 487 million yuan will be used for its capital reserve. After completion, Qise Lu Village's registered capital will increase from 131 million yuan to 144 million yuan, with existing shareholders holding approximately 90.91% as of the announcement date, and Chongqing International holding approximately 9.09%. The announcement stated that the capital injection can raise more funds for the group without increasing its leverage, providing funds for the group's future business expansion and exploration of investment opportunities in the group's main industries. This move will also promote the growth of the group's existing business flows, including conducting marketing activities, improving product and service quality, expanding sales channels, building new production facilities, as well as consolidating its leading and outstanding position in the Chinese synthetic mica industry.