HK Stock Market Move | Huaqin Co., Ltd. (03296) rose more than 4% in the afternoon, first quarter net profit increased more than 25% year-on-year, investing more than 2.6 billion yuan to increase stake in Nexchip Semiconductor Corporation.

Huaqin Co., Ltd. (03296) rose by more than 4% in the afternoon, as of the time of writing, it had risen by 3.25% to 90.65 Hong Kong dollars, with a turnover of 2.1 billion Hong Kong dollars. On the news front, Huaqin Co., Ltd. released its first-quarter performance, with the group achieving operating income of 40.746 billion yuan, an increase of 16.42% year-on-year; net profit attributable to shareholders of listed companies was 1.061 billion yuan, an increase of 25.96% year-on-year. At the same time, the company released a distribution plan for the year 2025, intending to issue a 10:4 bonus share and pay a dividend of 12 yuan. It is worth noting that on April 28, Huaqin Co., Ltd. issued a heavyweight equity transaction announcement. Based on the deep recognition of the long-term investment value of Nexchip Semiconductor Corporation, the company, together with its wholly-owned subsidiary Hefei Qinhao, officially signed a share transfer agreement with Power Technology. Hefei Qinhao intends to acquire 5% of Nexchip Semiconductor Corporation held by Power Technology in cash, at a transaction price of 26.41 yuan per share, with the total transfer price reaching 2.651 billion yuan. After the completion of the transaction, the direct shareholding proportion of the listed company remains unchanged at 6%, the subsidiary will add 5% shareholding, and the combined shareholding proportion of both parties will increase to 11%.