HK Stock Market Move | XIANGXING INT (01732) opened more than 31% higher, West Well Technology proposes to acquire 29% of the company's equity.

XIANGXING INT (01732) rebounded with a high opening of over 31%, and as of press time, it has risen by 31.58%, reaching 0.3 Hong Kong dollars with a trading volume of 342,000 Hong Kong dollars. On the news front, XIANGXING INT announced that Sino-Edge Holdings (Hong Kong) Limited intends to make a partial offer to purchase 3.712 billion shares of the company at a price of 0.21 Hong Kong dollars per share, accounting for 29% of the company's issued share capital, at a discount of approximately 7.89% compared to the previous trading day's closing price of 0.228 Hong Kong dollars. According to public information, Sino-Edge Holdings (Hong Kong) Limited is a subsidiary of Shanghai Sino-Edge Technology Co., Ltd. (Sino-Edge Technology). Sino-Edge Technology submitted a listing counseling registration report to the Shanghai Securities Regulatory Bureau in April of this year, planning to IPO on the A-share market. Once the partial offer acquisition is completed, XIANGXING INT is expected to become the first stock in the Hong Kong stock market in the concept of commercial unmanned vehicles.