INNOVATIVE PHAR (00399) surged over 30% in Hong Kong trading, vaulting 30.36% to HK$0.365 by press time with a robust turnover of HK$27.43 million. The rally follows the company's late June disclosure of a memorandum of understanding signed with Northwestern Foundation and blockchain developer Conflux. This agreement outlines a potential full-equity acquisition of a target entity, contingent upon said entity completing its purchase of Conflux's assets.

Registered in Hong Kong, Conflux specializes in blockchain technology infrastructure. INNOVATIVE PHAR emphasized its strategic pivot toward diversifying revenue streams through digital innovation. The firm is actively exploring emerging opportunities while implementing performance-enhancement initiatives, explicitly targeting blockchain sector expansion.

Concurrently, the company proposed adopting "Xing Tai Lian Group Limited" as its secondary Chinese name, signaling a transformative rebranding aligned with its technological ambitions. This dual-pronged strategy – encompassing both blockchain entry and identity evolution – underscores its aggressive repositioning within the tech ecosystem.