HK Stock Market Move | After the resumption of trading, QUALI-SMART (01348) rose by over 26%, with Liu Chong acquiring approximately 60.20% of the shares and offering a cash offer at a discount of around 45.5%.

QUALI-SMART (01348) surged more than 26% after resuming trading. As of the time of writing, it has increased by 16.16% to HK$0.226, with a trading volume of HK$3.9023 million. On the news front, on December 19th, QUALI-SMART and the offeror YAEL CAPITAL MANAGEMENT LIMITED jointly announced that on December 12, 2025 (after trading hours), the offeror (as the buyer) and the selling shareholders (as the sellers) entered into a sale and purchase agreement, with the selling shareholders conditionally agreeing to sell, and the offeror conditionally agreeing to acquire the shares to be sold (totaling 8.87 billion shares, representing approximately 60.20% of the total issued share capital of the company as of the date of the joint announcement), for a total consideration of HK$95.8411 million, equivalent to HK$0.108 per share of the shares to be sold. Following completion and as of the date of the joint announcement, the offeror, the ultimate beneficial owners of the offeror, and any of their concert parties collectively hold 8.87 billion shares, representing approximately 60.2% of the company's total issued share capital. Sinopharm International and Huabo Capital will, on behalf of the offeror, make a cash offer for the offer shares under the takeover code at HK$0.108 per share offer, representing a discount of approximately 45.5% to the closing price of HK$0.198 per share on the last trading day on the Stock Exchange.