On May 22, Butong Group (06090.HK) rose 8.65% in regular trading, trading at HKD 36.0/share, with trading volume of HKD 61.24 million. The rally was driven by the announcement of a strategic cooperation framework agreement with Cyannova Capital.

According to the agreement signed on May 21, Butong Group and Cyannova Capital plan to establish a strategic partnership on an equal and mutually beneficial basis. The cooperation scope includes co-investing in industry projects, project sourcing, and resource integration. Cyannova has committed to making a strategic investment of no less than USD 20 million within one year from the agreement date by acquiring company shares through the secondary market, subject to applicable laws and regulations.

The board believes this cooperation will enable the company to leverage Cyannova's global strategic capital and industry resources to access more investment opportunities, providing support for long-term development. Cyannova's investment also signals confidence in the company's business outlook.

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