Zitong Financial APP learned that Xinnu Technology (09600) soared more than 200% in early trading, up 170% as of press time.Pubgdoritos.59%, report 0Pubgdoritos.92 Hong Kong dollars, with a turnover of 6.8698 million Hong Kong dollars, with a total market capitalization of over 700 million Hong Kong dollars.

On the news side, Xinnu Technology announced that it intends to place a maximum of about 157.3 million placing shares to no less than six placing shares at a placing price of HK $0.28 per placing share through a placing agent, accounting for about 16.67 per cent of the enlarged share capital. The placing price is about 17.65% off the previous day's closing price of HK $0.34 per share. The net proceeds from the placing is about HK $43.6 million, which is intended to be used to supplement the Group.PubgdoritosGeneral working capital.

According to the company's previously released annual results, Xinnu Technology earned 245 million yuan in revenue in 2023, a decrease of 5.78% from the same period last year.PubgdoritosThe loss attributable to the owner of the company was 69.159 million yuan, while the profit attributable to the owner of the company for the same period last year was 17.488 million yuan. According to the announcement, the group achieved revenue of 245 million yuan in 2023, mainly from the IT solution services business, down 5.8% from 261 million yuan in 2022. The decrease in revenue in 2023 was mainly due to a significant decline in revenue from technology and maintenance services and from the sale of standard software.