Understanding the Market | CHINA IN-TECH rose over 5% after recently signing a non-binding memorandum of understanding with DeKun Asset Management (Hong Kong)

CHINA IN-TECH rose over 5%, as of the time of writing, up 5.49%, priced at HKD 0.96, with a transaction volume of HKD 3.8916 million. In terms of news, recently, CHINA IN-TECH announced that the company (as a potential subscriber) has entered into a non-binding memorandum of understanding with DeKun Asset Management (Hong Kong) Limited (the target company), regarding a potential subscription for up to 30% of the expanded issued share capital of the target company. The consideration for the potential investment and other terms are subject to further negotiations among the parties to the memorandum of understanding. The target company is an investment holding company registered in Hong Kong, which primarily provides virtual digital product trading services to users through its wholly-owned subsidiaries. Its indirectly wholly-owned subsidiary is a company that sells online virtual digital recharge products through its e-commerce platform and provides sales and recharge services for such products. Before proceeding with the potential investment, the company will conduct further due diligence on the target company and ensure compliance with all relevant laws and regulations