GCL NEWENERGY (00451) surged nearly 7% during the late trading session, bringing its cumulative gain for the month to almost 100%. At the time of writing, the stock was up 7.38%, trading at HKD 1.6, with a turnover of HKD 17.4234 million.

On January 8, the company announced its intention to issue 186.5 million shares to the subscriber, Pharos, raising approximately HKD 192 million. Pharos is a next-generation Layer 1 public chain focused on building institutional-grade application scenarios for tokenized assets. The investment is expected to fully leverage Pharos's advanced technology and the Group's resource advantages to accelerate the integration of Web3 with the new energy industry, thereby creating synergistic value for all parties involved.

Concurrently, the investment enables the company to explore the potential of blockchain technology for innovation within the new energy sector and to create sustainable value for its shareholders. The Directors also believe the subscription presents a valuable opportunity for the Group to expand its capital base and shareholder foundation.