HK Stock Market Move | GD-HKGBA Holdings (01396) surged more than 4%, with its subsidiary, Tianton Data, recently receiving a significant strategic investment from Futian State-owned Assets.

GD-HKGBA HLDGS (01396) is now up more than 4%, as of the time of writing, up 3.82% to HKD 6.8, with a turnover of HKD 10.6023 million. In terms of news, GD-HKGBA HLDGS announced plans to offer approximately 8.40% of the total issued share capital, a total of 20.311 million subscription shares, with a net proceeds of approximately HKD 121.6 million. The board of directors intends to use the net proceeds from the subscription for the group's general operating funds, specifically around 90% for potential AI computing power cloud service projects, and around 10% for daily operating expenses. It is worth noting that the company recently announced that a subsidiary of Futian Capital, a state-owned enterprise under the Futian District State-owned Assets Supervision and Administration Commission of Shenzhen, has invested RMB 800 million through capital injection to acquire 40% equity interest in a project company of GD-HKGBA HLDGS's Tian Dun Data, with the funds specifically used for the company's computing power network layout in the Guangdong-Hong Kong-Macao Greater Bay Area. Public information shows that Tian Dun Data is one of the top-tier constructors and operators of intelligent computations in China, with rare capabilities and practical experience in building and operating high-performance computing power clusters, able to meet the demand for training large-scale models with billions of parameters.