The Zhitong Finance App learned that New Focus (00360) rose more than 18%, rose 18.4% at press time to HK$0.148, and had a turnover of HK$7.37 million. It is worth noting that the company's stock price has continued to rise since September, with a cumulative increase of over 170%. The stock price has reached a new high in the past two years.
Earlier, the company issued an announcement. On September 25, 2023, the company's board of directors approved the company's indirect wholly-owned subsidiary New Fox (Beijing), Broadcom and Shanghai to reestablish a new company, Jinyi, with a registered capital of RMB 100 million, of which Newforks (Beijing) will invest RMB 60 million. After the establishment of Jinyi, it will become a subsidiary company with 60% of the company's indirect interests. Jinyi will be mainly engaged in integrated hydrogen energy solutions and commercial operations.
Furthermore, on October 6, 2023, Jinyi (an indirect non-wholly-owned subsidiary of the company, as the buyer) and Zheda Tongbo (as the seller) entered into a purchase agreement relating to the sale of integrated fuel cell system production lines and related equipment, as well as program design, debugging, training and guidance, and software platform development, deployment and commissioning services, at a total cost of RMB 298 million (tax included).