HK Stock Market Move | BLACK SESAME (02533) surged over 6% recently with a strategic placement of approximately 6.31 billion Hong Kong dollars completed, focusing on the research and development of next-generation high-performance chips.

BLACK SESAME (02533) rose more than 6%, up 5.97% at the time of writing, to 20.94 Hong Kong dollars, with a turnover of 1.25 billion Hong Kong dollars. In terms of news, on March 9, BLACK SESAME announced that the company has signed a subscription agreement with Infini Capital, issuing a total of approximately 33,544,600 subscribed shares at a subscription price of 18.88 Hong Kong dollars per share, a discount of 2.13% compared to the company's closing price of 19.29 Hong Kong dollars on March 9, with a total cost of approximately 6.31 billion Hong Kong dollars. According to the announcement, this strategic placement will inject abundant funds and industrial resources into BLACK SESAME, with the funds mainly used for the research and development of next-generation high-performance chips, including high-calculational chips for autonomous driving and Siasun Robot & Automation, edge AI chips for terminal devices; the construction of overseas research and development centers to enhance global research and development collaborative capabilities; and to promote the certification, adaptation, and resource allocation of BLACK SESAME's latest high-performance intelligent driving chips and platforms in key customers; expand the Siasun Robot & Automation product line and edge AI product line, accelerate product commercialization.