The Zhitong Finance App learned that Huayin International Holdings (00989) resumed trading at 1 p.m., and at one point soared more than 119%. As of press release, it had risen 85.71% to HK$0.078, with a turnover of HK$559,300.

According to the news, Huayin International Holdings announced that on April 25, the company signed a loan capitalization agreement with the subscriber. The company will issue a total of 5.06 billion capitalized shares to the subscribers at HK$0.05 per share. The total cost payable by the subscribers is HK$253 million, and payment will be made by capitalizing and offsetting all of the loans on an equal basis upon completion of the agreement. The capitalized price is HK$0.05 per share, a premium of approximately 19.05% over the closing price of the shares on April 25 (that is, the date of the loan capitalization agreement).

Following the completion of the capitalization of the loan, the concerted action group's shareholding in the company increased from 30.95% to 59.45%. The subscribers will apply for a clean-up exemption from the executive for the full purchase offer obligation. On the date of the announcement, Jilin Rongyu, an indirect wholly-owned subsidiary of the company, owed Guangze Investment Holdings about 230 million yuan (about HK$253 million) for the loan. On the date of the announcement, Guangze Investment Holdings was owned by the controlling shareholder Choi's family.