HK Stock Market Move | MOST Kwai Chung (01716) rose more than 28% in the afternoon, with a cumulative increase of more than 6.5 times after the acquisition case. Ma Liyang said he will build a dual capital platform system.

MOST KWAI CHUNG (01716) rose over 28% in the afternoon, and the cumulative increase after the acquisition has exceeded 650%. As of the time of writing, it rose by 30.52% to 9.58 Hong Kong dollars, with a trading volume of 61.8122 million Hong Kong dollars. On the news front, on March 12th, Chairman Ma Liyang of Indium Target Advanced Materials (Harbin) Co., through his holding company Xaojun Legendary Limited, acquired 65% of MOST KWAI CHUNG for a total price of 1.222 billion Hong Kong dollars. By April 23rd, the comprehensive tender offer had been completed in accordance with regulations. Starting on May 5th, including MOST KWAI CHUNG founder Yao Jiahao and Lu Jiajun, five directors resigned collectively. Cheng Taohong was appointed as the executive director and authorized representative, Dr. Yuan Yuan and Ms. Yuan Fan were appointed as independent non-executive directors and entered various key committees. It is worth noting that Ma Liyang recently stated that this acquisition is an independent capital operation and no funds from the listed company Indium Target Advanced Materials (Harbin) Co., were used. The two companies remain completely independent in terms of assets, finances, personnel, and operations and there is no competition between them. He emphasized that the underlying logic of this acquisition is to build a dual capital platform system of "A shares + overseas."