Stock Track | FIT Hon Teng Surges on Subsidiary's Acquisition of Electronics Maker

Stock Track08-06

Shares of FIT Hon Teng (HKG:6088) soared 10.6% intraday on Monday, following the announcement that its subsidiary Fu Yu Electronics Technology (Huaian) has acquired a 70% stake in China Cloud Electro Optics Technology, an electronics equipment manufacturer.

According to a filing with the Hong Kong Stock Exchange, Fu Yu Electronics Technology purchased the 70% stake in China Cloud Electro Optics Technology from Zibo Yingcai Investment Partnership Enterprise and an individual for 220.7 million yuan.

The acquisition is expected to expand FIT Hon Teng's business operations and strengthen its position in the electronics manufacturing industry.

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