Changes in Hong Kong stocks | Kingsley Biotech (01548) rose more than 5% in early trading, Xiaomo believes that the market still has strong interest in Kingsley's AIDD business

The Zhitong Finance App learned that Kingsley Biotech (01548) rose more than 5% in early trading. As of press release, it rose 5.44% to HK$34.12, with a turnover of HK$745 million.

According to the news, Kingsley Biotech recently announced that it plans to sell 7.126 million shares at a discount of 4.7%, with a net proceeds of about HK$2.33 billion, of which about 70% will be used to expand the production capacity and infrastructure of the Group's AIDD platform, including automated high-throughput wet laboratory facilities, related equipment and laboratory upgrades; 20% will be used for R&D, digital workflow integration and global business development related to the AIDD platform; and 10% will be used for general corporate use and working capital.

Xiaomo said that Kingsley's after-sales stock price has risen against the market. He believes that the market is still keenly interested in Kingsley's AIDD business. The company announced the allotment before the opening of the market last Friday, which will provide necessary capital to expand the production capacity of AIDD-related wet laboratories and accelerate related R&D and digitalization. Therefore, he maintains a positive view. It is recommended that technical investors view the recent weak stock price as an opportunity to increase their holdings.