HK Stock Market Move | GCL NEWENERGY (00451) rises by over 10% again, accumulating a total increase of over 80% this month. The company recently introduced strategic investment from Pharos.

GCL NEWENERGY (00451) rose by over 10%, with a cumulative increase of over 80% this month. As of the time of publication, it has risen by 6.52% to 1.47 Hong Kong dollars, with a trading volume of 33.0933 million Hong Kong dollars. On the news front, on January 8, GCL NEWENERGY announced its plan to issue 186.5 million shares to subscriber Pharos, raising approximately 192 million Hong Kong dollars. Pharos is a next-generation Layer1 public chain focused on building institutional-grade tokenized asset application scenarios. The investment will leverage Pharos' advanced technology and the Group's resource advantages to accelerate the integration of Web3 and the new energy industry, creating synergistic value for all parties. The investment also allows the company to explore the potential of blockchain technology for innovation in the new energy industry, and create sustainable value for shareholders. The Directors also believe that the subscription is a good opportunity for the Group to expand its capital and shareholder base.