FIH Mobile Shares Surge Nearly 7% in Afternoon Trading on Vietnam Subsidiary Capital Injection Plan

Stock News04-21 13:42

FIH Mobile (02038) rose nearly 7% in afternoon trading. At the time of writing, the stock was up 6.74% to HK$23.74, with a turnover of HK$58.25 million. The increase follows a recent announcement from FIH Mobile regarding a planned capital injection. The company disclosed that its wholly-owned indirect subsidiary, Chief Expertise Limited, intends to make a further investment into its direct wholly-owned Vietnamese subsidiary, Fushan Technology (Vietnam) Limited Liability Company. The proposed additional investment totals $58.324 million, equivalent to approximately 1,524,356,064,000 Vietnamese Dong. This capital will serve as a long-term investment in Fushan, designated for working capital and general corporate purposes. The transaction, referred to as the proposed fifth capital injection, is expected to be completed by the end of June 2026. Fushan's primary business involves the manufacturing, processing, and assembly of mobile devices, audio equipment, computer equipment, optical devices, wearable products such as smart bands and watches, and electronic and telecommunications equipment, along with related repair services.

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