HK Stock Market Move | GCL NEWENERGY(00451) rose nearly 7% in the final trading hours. The company recently introduced a strategic investment in the public chain platform Pharos.

GCL NEWENERGY (00451) rose nearly 7% at the close, with a cumulative increase of close to 100% for the month. As of the time of publication, it rose 7.38% to 1.6 Hong Kong dollars, with a trading volume of 17.4234 million Hong Kong dollars. On the news front, on January 8th, GCL NEWENERGY announced that it plans to issue 186.5 million shares to subscriber Pharos to raise approximately 192 million Hong Kong dollars. Pharos is a new generation Layer 1 public chain focused on building institutional-grade tokenized asset application scenarios. The investment will fully leverage Pharos's 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. At the same time, the investment 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.