ADD NEW ENERGY (02623) rose more than 10%, reaching an intraday high of HK$6.7, marking a new peak for the year. As of the time of writing, the stock was up 8.76% to HK$6.58, with a turnover of HK$26.74 million.

The movement follows a recent announcement by ADD NEW ENERGY proposing to change the company's name to "Hong Kong Gold Industry Group Limited." This move, combined with previous actions such as a change in controlling shareholding, participation in investments in Australian gold mining companies, further acquisition of equity stakes, and entry into domestic silver mine investments, sends a clear signal: the company is moving away from its former "new energy" identity and fully transitioning its focus to precious metals, primarily the gold industry.

Notably, ADD NEW ENERGY recently announced its intention to acquire a total of 37.7 million shares in the Australian-listed gold mining company HRZ.AX, held by Golden Crane and Ocean Wing. This represents approximately 14.46% of its issued share capital, for a total consideration of A$40.716 million (equivalent to approximately HK$219 million). Through this increased stake, ADD NEW ENERGY becomes the largest shareholder of HRZ.AX, significantly accelerating and deepening its strategic footprint in the Australian gold mining sector.

The company's new management has previously explicitly stated its intention to prioritize the gold, silver, and other precious metals industries as the primary focus of this transformation. It plans to pursue global mergers and acquisitions and invest in high-quality gold and silver mineral resource projects, aiming to establish the company as a leading modern gold industry group in the Asia-Pacific region.