SINOHYTEC Soars ~35%, Mulling to Issue A-shrs to Acquire Full Stake in Hydrogen Supplier
SINOHYTEC (02402.HK) +6.600 (+31.206%) opened 14.9% higher this morning (27th) and once hit a peak of $30 in the early session. It last traded at $28.5 after midday, up 34.75%. Although having always been sparse, the company’s turnover rocketed to $148 million today.
SINOHYTEC issued an announcement saying that it is planning to acquire 100% equity interests in and assets of Risun Hydrogen Energy by way of issuance of A-shares and to raise ancillary funds, yet it is currently uncertain whether this will constitute a major asset restructuring.
Risun Hydrogen Energy is the largest hydrogen supplier in the Beijing-Tianjin-Hebei region and is an important vehicle for CHINA RISUN GP (01907.HK) +0.030 (+1.111%) Short selling $3.56M; Ratio 10.238% in its transition to the hydrogen energy industry.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-02-27 16:25.)
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SINOHYTEC Soars ~35%, Mulling to Issue A-shrs to Acquire Full Stake in Hydrogen Supplier, source
