HK Stock Market Move | XTALPI (02228) rose more than 7% in the afternoon, signing a cooperation agreement with Jinko Solar for the AI high-throughput laminated CECEP Solar Energy battery project.

XTALPI (02228) rose more than 7% in the afternoon, up 7.14% as of the press release, at 12.16 Hong Kong dollars, with a turnover of 8.13 billion Hong Kong dollars. On the news front, Jinko Solar recently announced a strategic cooperation agreement with CrystaTech, both sides will jointly establish a joint venture company to promote the research and development of high-throughput perovskite layering CECEP Solar Energy batteries based on AI technology. This move marks the two companies officially opening up deep collaboration in the field of next-generation photovoltaic technologies such as perovskite layering, aiming to reshape the photovoltaic research and development paradigm through "AI+Siasun Robot&Automation" and accelerate the research and industrialization process of disruptive technologies. In addition, XTALPI announced a proposal to issue 2.866 billion Hong Kong dollars of zero-coupon convertible bonds due in 2027, with an initial conversion price of HK$13.85 per share, a premium of about 20% over the closing price of HK$11.54 on January 7, and all convertible into 207 million shares, accounting for approximately 4.59% of the enlarged share capital. The proceeds are intended to be used to enhance the company's domestic and international research and development capabilities and one-stop solution capabilities; enhance domestic and international commercialization capabilities and expand business development and marketing teams; expand domestic and international delivery and research and development capabilities through the construction of plants; and for working capital and general corporate purposes.