HK Stock Market Move | TRADEGO (08017) rises by more than 10%, the company plans to inject an additional HK$40 million into TGM to expand licensed financial services.

TRADEGO (08017) surged more than 10%, with a year-to-date cumulative increase of over 11 times. As of the press time, it rose by 7.05% to 2.43 Hong Kong dollars, with a trading volume of 21.7577 million Hong Kong dollars. In terms of news, TRADEGO announced that following the capital increase of 43 million Hong Kong dollars for its indirect wholly-owned subsidiary TradeGo Markets Limited on July 29, the company plans to further increase the capital of TGM by 40 million Hong Kong dollars to support the expansion of TGM business. TGM is a licensed corporation under the Securities and Futures Ordinance of Hong Kong, holding licenses number 1 and 7. This capital increase aims to strengthen TGM's capital base to support its business growth and risk management needs, further promoting the expansion of licensed financial services. It is worth noting that TRADEGO previously announced that its subsidiary Jieligangxin intends to jointly establish a joint venture company with Fornost Sullivan and Jinzhou Holdings. The main business scope of the joint venture company is expected to include: RWA asset rating services, data and information product services, structural design and advisory services, as well as industry standards and regulatory cooperation projects. In addition, TRADEGO announced its intention to establish a strategic cooperation with BRETON and Jinzhou Holdings for the global issuance of real-world assets (RWA).