HK Stock Market Move | CHI KINGSTONE (01380) rose nearly 4% recently after signing a memorandum of understanding with three parties, exploring opportunities to expand its business into the gold mining sector.

CHI KINGSTONE (01380) rose nearly 4%, and as of the time of writing, it is up 3.92%, priced at HKD 0.53, with a trading volume of HKD 105,600. In terms of news, CHI KINGSTONE recently announced that the company has signed a memorandum of understanding with First Asia Merchant Gold & Silver Limited (First Asia) and First Gold Pawn Holdings Group Limited (First Gold Pawn). The memorandum outlines a framework for the parties to explore potential cooperation opportunities, aiming to establish a long-term strategic partnership and achieve mutually beneficial commercial advantages. Additionally, the group is exploring opportunities to expand its business into the gold mining sector, including stakeholders related to the proposed Chilean gold mine project. The proposed collaboration under the memorandum provides a framework for the parties to explore potential vertical integration opportunities within the gold value chain. According to the memorandum, the parties may explore participation in downstream activities (covering processes from refining, gold casting to trading, retail, hedging, gold recycling, and circular reuse), with the aim of seeking broader engagement opportunities within the gold value chain.