CHINASOFT INT'L (00354) saw its shares climb more than 5% during the late trading session, buoyed by a major acquisition announcement that signals its strategic push into the power and energy sector.

The IT services firm jumped 5.04% to HKD 3.855 with trading volume reaching HKD 82.79 million, as investors responded positively to news that the company plans to spend HKD 944 million in cash to acquire a 29.68% stake in Hangzhou Gisway Information Technology Co., Ltd., a move that would make it the controlling shareholder.

Insiders close to the deal indicate that the acquisition is designed to foster a dual-platform growth model, positioning Gisway as a key player in the "AI plus power" segment, specifically focusing on the convergence of computing and electricity. This strategic alignment is expected to enable the company to break into the photovoltaic-storage-charging (光储充) sector as well as bolster its domestic IT innovation (信创) business.

Company officials stated that this acquisition represents a pivotal element of its "one body, two wings" strategy, aimed at strengthening its power energy division. The target company, which possesses robust expertise in technology, products, industry qualifications, specialized teams, and customer relationships within the power energy domain, is expected to provide the group with a significant competitive edge.

By integrating Gisway's resources, the group anticipates a smoother expansion into the broader power market while simultaneously tapping into high-growth areas such as solar, storage, and EV charging infrastructure.