HK Stock Market Move | INKEVERSE (03700) Surges Over 17% in Early Trading, Plans to Sell KuaiChuang Equity for RMB 80 Million, Proceeds Mainly to Be Invested in AI

INKEVERSE (03700) surged over 17% in early trading. As of press time, it rose 13.45% to HK$0.675, with a turnover of HK$1.1995 million. On the news front, INKEVERSE announced that it plans to sell a 40% stake in Guangzhou KuaiChuang for RMB 80 million. Upon completion of the transaction, INKEVERSE will no longer hold any equity in Guangzhou KuaiChuang, and Guangzhou KuaiChuang will no longer be consolidated into INKEVERSE's financial statements; the buyer, Guangzhou 1846 Technology Co., Ltd., is wholly owned by Zhuang Zehong, a major shareholder and director of Guangzhou KuaiChuang. According to the announcement, INKEVERSE expects to receive a net amount of approximately RMB 72.8 million after deducting estimated taxes and transaction costs of approximately RMB 7.2 million. Of this, approximately RMB 54.6 million will be used to continuously optimize the underlying AI computing infrastructure and research and development of multimodal AI applications, in order to support the expansion of overseas innovative businesses.