HK Stock Market Move | Yidu International (00259) rose more than 15% in intraday trading, and Muxi's science and technology innovation board IPO is about to be submitted for approval. Yidu is a major investor in Muxi and the two companies have a close collaboration.

Yidu International (00259) rose more than 15% intraday, rising 11.42% to HK $4.78 as of press time, with a turnover of HK $15,478.4 million. On the news front, the Shanghai Stock Exchange recently announced on its official website that the Listing Committee is scheduled to review the IPO application of Muxi Shares for the Science and Technology Innovation Board on October 24. According to the prospectus, Muxi Shares plans to raise 3.904 billion yuan for investment in projects such as "new high-performance general GPU research and industrialization project", "next-generation artificial intelligence inference GPU research and industrialization project" and "high-performance GPU technology research project for cutting-edge fields and emerging application scenarios". Public information shows that Alfonse Information is a wholly-owned subsidiary of Yidu International, a Hong Kong-listed company, with business covering AI industry chain investment, AI computing power cluster operation based on domestic GPU, as well as deep development in technology fields such as AI computing servers and super node servers. Alfonse has invested in companies such as Muxi and Yunhe Zhiwang, and is also involved in commercializing Pudong Laboratory's MobiTech. It is reported that at this year's WAIC exhibition, Alfonse Information, together with Muxi, Infinite Light Years, Fudan University, Shanghai Creative Academy, Luxshare Precision Industry, MOHE Information and other institutions, jointly developed the domestically developed high-density computing system Shanghai Cube in a comprehensive and positive manner.