DRINDA Surges Over 9% in Early Trading as Company Plans Stake in Shanghai Xingyi Xinneng Technology

Deep News01-26 09:40

DRINDA (02865), which skyrocketed 51% in the previous trading session, continued its upward momentum today by opening over 13% higher. As of the time of writing, the stock was up 8.92%, trading at HKD 42.48 with a turnover of HKD 545 million.

It is noteworthy that on January 14, DRINDA announced its intention to invest CNY 30 million in cash to acquire a stake in Shanghai Xingyi Xinneng Technology Co., Ltd. The investment involves subscribing to CNY 461,539 of new registered capital in Xingyi Xinneng, securing a 16.6667% equity stake, thereby initiating a strategic expansion from terrestrial photovoltaics to space-based photovoltaics. However, in a subsequent announcement on January 23, the company stated that the comprehensive cost-effectiveness of perovskite photovoltaic technology in the extreme environment of space still requires verification, and no formal business agreement has been signed with the investee company, Xingyi Xinneng, regarding space photovoltaics.

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