Changes in Hong Kong stocks | Shell Electric (02381) rose nearly 20% in early trading, Star Signs Holdings has officially joined the company and said it has no intention of privatizing the company

Zhitongcaijing · 2d ago

The Zhitong Finance App learned that Shell Electric (02381) rose nearly 20% in early trading. As of press release, it rose 19.12% to HK$0.405, with a turnover of HK$3.28 million.

According to the news, Xingzhao Holdings has completed the acquisition of 1.4 billion shares of Shell Electric, accounting for 70% of the company's total issued shares. A mandatory unconditional cash offer will be made in the future. According to public information, Xingzhao Holdings is wholly owned indirectly by Tianlong Mobile, a leading smart terminal company in China, while Tianlong Mobile holds 97.0149% of the interests of Tianlong Technology Group.

Notably, Xingzhao Holdings clearly stated that it intends to continue Shell's existing business, has no intention of privatizing the company, and maintains the listed position of the company's shares on the Stock Exchange. This means that this transaction is not a “shell buyout” or “privatization” arrangement in the traditional sense, but rather favors the strategic entry of industrial capital through transfer of control rights.