HK Stock Market Move | XUANZHUBIO-B (02575) surged 20% in the afternoon; the company previously announced preliminary discussions regarding a potential acquisition.

XUANZHUBIO-B (02575) surged 20% in the afternoon. As of press time, it was up 19.75% at HK$9.7, with a turnover of HK$48.4758 million. On the news front, Xuanzhu Bio's share price surged by as much as 40% on September 17. After market close that day, the company issued a voluntary announcement regarding abnormal share price movements, disclosing that it is currently in preliminary discussions with a certain party regarding a potential acquisition, and the relevant negotiations are still ongoing. The terms and conditions of the potential acquisition have not yet been finalized, and as of the date of the announcement, the group has not entered into a formal agreement in respect of the potential acquisition. There is no guarantee that the potential acquisition will proceed or ultimately be completed, and the transaction may not go ahead.