HK Stock Movement | CENTRAL NEW EGY (01735) Rises Nearly 8% in Early Trading, Forms Global Strategic Partnership with Hemingway Family Fund

Stock News11-17

CENTRAL NEW EGY (01735) surged nearly 8% in early trading, and as of press time, it was up 4.12% at HK$10.89, with a turnover of HK$34.8 million.

The rally follows news that CENTRAL NEW EGY Holdings Group has entered into a global strategic partnership with the Hemingway Family Foundation's Yingzhi Hemingway Growth Income Fund on November 15. The collaboration aims to establish a long-term, mutually beneficial alliance, leveraging capital, market synergies, and technological complementarity to accelerate CENTRAL NEW EGY's global expansion.

As a core part of the agreement, Yingzhi Hemingway Growth Income Fund or its affiliates will subscribe to and hold up to 20% of CENTRAL NEW EGY's equity as an industrial investor. The transaction will proceed fairly and in compliance with relevant regulations.

The partnership underscores Yingzhi Hemingway's confidence in CENTRAL NEW EGY's successful strategic transformation, sustained high revenue growth, profitability amid market challenges, and potential to evolve from a manufacturing firm into a smart platform covering the entire new energy industry chain.

In recent years, CENTRAL NEW EGY has shifted its focus to high-end new energy manufacturing and zero-carbon solutions, transforming from a green construction company into a rising star in the photovoltaic sector with strong growth momentum.

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