GLOBAL NEW MAT (06616) rose more than 7% in early trading. At the time of writing, the stock was up 6.64% to HK$4.98, with a turnover of HK$109 million.

Recently, GLOBAL NEW MAT announced that between July 2025 and October 2025, the company purchased a total of 1.1218 million shares of its non-wholly owned subsidiary, CQV. Following the increase in holdings, the company now holds a total of 5.5118 million shares of CQV, representing approximately 50.75% of CQV's total issued shares.

GTHT issued a research report maintaining an "Overweight" rating on GLOBAL NEW MAT (06616), with a target price of HK$5.27. The report forecasts the company's net profit attributable to shareholders for 2025–2027 at RMB 304 million, RMB 376 million, and RMB 488 million, respectively. The second-phase plant of Seven Color Pearl, with an annual capacity of 30,000 tons of pearlescent materials, has gradually commenced production. Meanwhile, the infrastructure for the Tonglu, Hangzhou project—with an annual capacity of 100,000 tons of surface performance materials—is nearing completion and has entered the equipment installation phase. These large-scale production capacities will further solidify the company's leadership in global production.

The report noted that prior to the increase in holdings, the company held 4.39 million shares of CQV, representing approximately 42.45% of CQV's total issued shares at the time. After the transaction, the company's stake rose to 5.5118 million shares, or about 50.75% of CQV's total issued shares. This move aims to strengthen control over overseas core assets, enhance global business synergies, and improve governance stability. As a key part of the group's M&A integration strategy, CQV possesses a mature technological system, high-quality customer resources, and stable profitability, serving as a crucial pillar for the group's "Materials + Innovation + Full-Scenario" overseas expansion strategy.