GCL NEWENERGY (00451) surged more than 10% again, bringing its cumulative increase for the month to over 80%. At the time of writing, the stock was up 6.52%, trading at HK$1.47, with a turnover of HK$33.0933 million. On January 8, the company announced a proposed issuance of 186.5 million shares to the subscriber, Pharos, aiming to raise approximately HK$192 million. Pharos is a next-generation Layer1 public chain focused on building institutional-grade application scenarios for tokenized assets. The investment is expected to leverage Pharos's advanced technology and the Group's resource advantages to accelerate the integration of Web3 with the new energy industry, creating synergistic value for all parties involved. Concurrently, the investment enables the company to explore the potential of blockchain technology for innovation within the new energy sector and to create sustainable value for shareholders. The directors also consider the subscription a favorable opportunity for the Group to expand its capital and shareholder base.