HK Stock Market Move | XXF (02473) rises by more than 6%, and its subsidiary intends to acquire 51% of Kuang Shi Technology through equity acquisition or capital increase and share expansion.

XXF (02473) rose more than 6%, as of the time of writing, it rose 5.95% to HK$9.26, with a turnover of HK$40.6156 million. On the news front, XXF announced that on January 12, 2026, its indirect wholly-owned subsidiary Xiyun Technology (Fujian) Co., Ltd. (Xiyun Technology) signed a memorandum of understanding (MOU) with Xiamen Kuangshi Technology Co., Ltd. (Kuangshi Technology) to potentially acquire 51% of Kuangshi Technology's equity through equity acquisition or capital increase. According to the MOU, after the potential transaction is completed, Xiyun Technology will hold 51% of Kuangshi Technology's equity. The transaction arrangements and core terms (including but not limited to the consideration and payment method) of the potential transaction have not been finalized and will be based on the results of due diligence and completion of preconditions, to be agreed upon in the formal agreement. With a nationwide self-operated sales network system and rich experience in vehicle operation and management, the Group is actively exploring the field of unmanned vehicles. Kuangshi Technology's research and development in millimeter-wave radar intelligent perception and solutions have broad application prospects in the field of smart driving, with significant synergies with the Group's unmanned vehicle business.