HK Stock Market Move | SMC ELECTRIC (02381) surged over 25% again, doubling its share price within the month; Star Mega Holdings completed the acquisition of a 70% stake in the company.

SMC ELECTRIC (02381) surged over 25% again, doubling its share price within the month. As of press time, it rose 25.00% to HK$0.45, with a turnover of HK$9.6443 million. On the news front, Star Mega Holdings recently completed the acquisition of a 70% stake in SMC ELECTRIC for a total consideration of HK$154 million. Star Mega Holdings intends to continue SMC ELECTRIC's existing business, has no intention of privatizing the company, and plans to maintain the shares' listing status. This transaction is more inclined toward achieving a strategic entry by industrial capital through a transfer of control. Public information shows that Star Mega Holdings is indirectly wholly owned by Tinno Mobile. Tinno Mobile is primarily engaged in the research and development, manufacturing, and sales of telecommunications equipment and electronic products, and has deep accumulation in the consumer electronics and intelligent terminal industry chain.