Shares of Huaqin Technology (03296) are experiencing significant gains, rising more than 6%. At the time of writing, the stock is up 5.88% to HK$61.25, with a trading volume of approximately HK$26.49 million.

The upward movement follows a company announcement regarding a major share acquisition. The company disclosed that its wholly-owned subsidiary, Huaqin Communications, purchased a total of 6.2598 million H-shares of NEXCHIP (02249) through an on-market transaction on the Stock Exchange of Hong Kong on July 17, 2026.

This acquisition represents about 0.28% of NEXCHIP's total issued share capital as of the announcement date. The total consideration for the transaction was approximately HK$189 million, excluding associated transaction costs, which equates to an average price of about HK$30.21 per share.

Following the completion of this purchase, the Huaqin Technology group now holds a stake amounting to roughly 10.48% of the total issued share capital of NEXCHIP.