HK Stock Market Move | FLAT GLASS (06865) surged over 5% in early trading as the company plans to acquire a 60% stake in Fulaire Chen, increasing its investment in the new materials sector.

FLAT GLASS (06865) surged over 5% in early trading; as of the time of reporting, it rose 4.75% to HK$7.72, with a transaction volume of HK$68.7327 million. In news, Flat Glass Group announced that it intends to acquire 60% equity of Fulairicheng for approximately HK$60.04 million using its own funds. Upon completion of the acquisition, it will achieve 100% ownership and realize integrated business synergy. It is understood that Fulairicheng's main business includes research and development of new material technologies, manufacturing of technical glass products, and sales of functional glass and new optical materials. Additionally, on July 31, the State Administration for Market Regulation conducted price compliance guidance for the photovoltaic industry in Yancheng, Jiangsu. The meeting emphasized the implementation of the decisions made by the Central Committee of the Communist Party and the State Council regarding the in-depth rectification of "involution" competition, promoting photovoltaic companies to shift from "competing on price" to "competing on quality." The State Administration for Market Regulation requires enterprises to proactively strengthen cost accounting management, establish and improve price compliance systems, conduct comprehensive self-examinations and corrections, and resist harmful low-price competition. For businesses that have received strong feedback from the industry and have not rectified despite warnings and discussions, serious legal actions will be taken.