HUANXI MEDIA (01003) dropped more than 11% during the session before paring losses to 5.71% at the time of writing, trading at HK$0.33 with a turnover of HK$5.31 million.

The company recently announced the introduction of C River Co as a new investor. Under the agreement, C River Co subscribed to 728 million new shares at HK$0.3 per share, representing approximately 19.90% of the existing share capital, and was granted 731 million warrants. The total net proceeds from the share placement and warrants amounted to approximately HK$225 million. If all warrants are exercised in the future, HUANXI MEDIA could raise an additional HK$322 million.

Additionally, HUANXI MEDIA signed a strategic cooperation framework agreement with Shanghai Stepstar Intelligent Technology Co., Ltd. The two parties plan to establish a joint venture as a collaborative platform to explore deep data cooperation and large-scale model technology integration in areas such as film and TV production, interactive entertainment, game development, and IP-related derivatives.