The Zhitong Finance App learned that Xianjian Technology (01302) fell more than 14% in the intraday period. As of press release, it decreased by 11.45% to HK$1.47, with a turnover of HK$225 million.

According to the news, on November 6, Guichuang Tongqiao announced that it will establish a shareholding platform with Telford Capital to subscribe for 926 million shares newly issued by Xianjian Technology at a total of HK$1.60 billion per share of approximately HK$1,482 million. After the transaction is completed, the platform will hold approximately 16.7% of Xianjian Technology's expanded share capital, making it its single largest shareholder. Guichuang Tongqiao's management will go to Xianjian Technology as CEO and CFO.

It is worth noting that in May of this year, Xianjian Technology announced that it plans to acquire about 96.46% of Beijing Huayi Shengjie's shares for about 1,883 billion yuan. All consideration will be paid in convertible bonds, and the counterparty will be controlled by Gao Lin Capital after penetration. If all of the bonds are converted to shares, Gao Lin will hold about 15.66% of Xianjian's expanded share capital, and is expected to become the largest shareholder. On July 20, Xianjian Technology announced that it would not proceed with the deal; on November 5, the two sides formally signed a termination agreement.

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