HK Stock Market Move | XXF (02473) rises by more than 9% again, the company plans to acquire a controlling stake in Kuangshi Technology to enter the millimeter wave radar track.

XXF (02473) rose more than 9%, as of press time, it rose 8.4% to HKD 9.29 with a turnover of HKD 53.5079 million. On the news front, XXF recently announced that it has signed a memorandum of understanding with Xiamen Momentech Technology, a leading domestic millimeter-wave radar intelligent sensing solution provider, planning to acquire 51% of its controlling stake through equity acquisition or capital increase. Some analysts pointed out that this move is seen as a clear signal of XXF's strategic deep penetration from the traditional automotive circulation field to the forefront of intelligent driving core technology industry chain. Public information shows that Momentech Technology is a professional provider of millimeter-wave radar intelligent sensing overall solution, with a complete chain of products including chips, algorithms, modules, complete machines, and system platforms. Combining artificial intelligence and multi-modal technology, it targets four major areas: intelligent health, smart home, assisted driving, and smart IoT, providing customers with high-performance products and overall solutions. Its products cover areas such as health and elderly care, consumer, medical, industrial, automotive, and software and services. Multiple products fill the domestic blank and are in a leading position in the industry.