Shares of GD-HKGBA HLDGS (01396) climbed more than 4% during the trading session. At the time of writing, the stock was up 3.05%, trading at HK$6.75, with a turnover of HK$11.8998 million.

GD-HKGBA HLDGS announced its intention to issue a total of 20.311 million subscription shares at a discount of approximately 8.40%, aiming to raise net proceeds of about HK$121.6 million. The Board plans to utilize the net proceeds from the subscription for the Group's general working capital purposes. More specifically, around 90% is earmarked for potential AI computing power cloud service projects, while approximately 10% is allocated for daily operational expenses.

It is noteworthy that the company recently disclosed that a subsidiary of Futian Capital, under the Futian District State-owned Assets Supervision and Administration Commission in Shenzhen, has invested in the project company of GD-HKGBA HLDGS's subsidiary, Tiandun Data, via a capital increase. The investment amounts to RMB 800 million, securing a 40% equity stake. The funds are designated exclusively for the company's computing power network deployment within the Guangdong-Hong Kong-Macao Greater Bay Area. Public information indicates that Tiandun Data is one of China's leading intelligent computing infrastructure construction and operation providers, possessing the rare capability and practical experience to invest in, build, and operate high-performance computing clusters comprising tens of thousands of cards, which can meet the training demands for large-scale models with hundreds of billions of parameters.