HK Stock Market Move | Huanxi Media (01003) resumed trading with a high opening but ended lower, falling more than 5%. Revised stock and warrant subscription agreements.

HUANXI MEDIA (01003) resumed trading today. After opening 22% higher in the morning session, the stock gradually fell and is currently down over 5%. As of the time of writing, it has fallen 5.19% to HKD 0.365, with a trading volume of HKD 1396.75 million. On the news front, HUANXI MEDIA announced that it has revised the share subscription agreement with C River Co, owned by Chen Rong. Both parties agreed to increase the number of shares to be issued from the original 548 million shares to 728 million shares, representing approximately 16.6% of the enlarged share capital. Additionally, the planned issuance of 1.889 billion warrants has been reduced to 731 million warrants, representing approximately 16.67% of the enlarged share capital. The net proceeds from the subscription and warrant subscription will total approximately HKD 225 million. Around HKD 100 million is planned to be invested in enhancing the company's capabilities in utilizing advanced technology, including artificial intelligence in the field of film and television production. This will further improve the company's production quality and efficiency, as well as explore new business opportunities in interactive entertainment, game development, and intellectual property related derivative products. Approximately HKD 50 million will be invested in the film and television copyright business, and approximately HKD 75.1 million will be used as general operating funds.