The Zhitong Finance App learned that Qiantang Holdings (01466) continued to rise more than 23% in early trading. At the time of publication, it rose 23.19% to HK$0.425, with a turnover of HK$1.46 million. Earlier, the company announced its annual results for the year ended March 31, 2023, with revenue of HK$86.88 million, an increase of 38.68% over the previous year; shareholders should have a profit of HK$8.726 million, while losses were HK$15.462 million in the same period last year; profit of HK$0.01 per share.

According to the news, the company announced last night that on June 29, 2023, Eminent Affluent Limited, a wholly-owned subsidiary of the company, plans to acquire all of the issued shares of Tonnett Julis Holdings Limited from Ketto Inform Limited at a cost of HK$42 million, of which HK$10.5 million will be paid by the company through the distribution and issuance of about 39.9954 million shares; and HK$31.5 million will be paid by the company through the issuance of convertible bonds.