Anling International (01410) plummeted by more than 12%. The recent high level has been weakening continuously and has plummeted 54% for 10 trading days. As of press release, it fell 12.90% to HK$0.54, with a turnover of HK$1.2 million.
The Zhitong Finance app learned that Anling International (01410) plummeted by more than 12%. Recently, its high level continued to weaken and plummeted 54% for 10 trading days. As of press release, it fell 12.90% to HK$0.54, with a turnover of HK$1.2 million.
According to the news, Anling International recently announced results for the six months ended September 30, 2023. The group's profit was HK$291 million, a decrease of 3.4% year on year; loss attributable to shareholders was HK$6.558 million, a year-on-year narrowing of 64.11%; and a loss of HK$0.65 per share.
According to the announcement, the sharp reduction in losses was mainly due to the fact that the fair value loss for profit and loss at fair value in relation to the unlisted investment of HKBitex's holding company was only about HK$400,000 (first half of FY2023: the fair value loss of the investment was about HK$23 million in fair value based on profit and loss), which was partially offset by the increase in operating costs mentioned above.
In addition, Anling International recently announced that on November 17, 2023, the company and Zhengzhou Shenglianyi Network Technology Co., Ltd. (target company) signed a memorandum of understanding on the proposal to invest in the target company (proposed investment) by subscribing or acquiring all or part of the target company's shares.
The target company is currently an artificial intelligence (AI) company focused on construction and finance, and has an experienced AI development team capable of handling various types of machine learning models. The directors believe that the proposed investment, once implemented, can bring synergistic benefits to the Group's existing business.