Shaw Brothers Holdings (00953) surged over 6%, with the stock up 6.35% to HKD 0.335 at the time of writing, recording a turnover of HKD 4.6092 million.

The recent uptick follows the company's announcement that it has entered into a sales agreement with its major shareholder, CMC Inc., proposing to acquire core assets from CMC by issuing consideration shares, with a transaction value reaching RMB 4.5765 billion (approximately HKD 5.098 billion).

The assets involved primarily include the renowned series production company Daylight Entertainment, film and television distribution company Tongle Film & TV, film investment and production company CMC Pictures, variety show production company Sun Moon Star Light Media, and Shanghai Siyuan, which operates over 50 UME cinemas.

Daylight Entertainment is a leading domestic series producer, primarily engaged in television drama investment and production, and distributes its works on major video streaming platforms, with its main revenue source being television drama distribution.

Its major works include hit television series such as "Nirvana in Fire," "The Disguiser," "Minning Town," and "The Story of Ming Lan."

By the end of 2025, Daylight Entertainment is set to make its foray into the film industry with its first movie production, "De Xian Jin Zhi."