ESTUN (02715) shares experienced a notable intraday rise, approaching a 5% gain. At the time of writing, the stock was up 3.18% to HK$20.42, with a trading volume of HK$172 million.

The upward movement follows the company's recent announcement regarding a corporate restructuring plan. On June 22nd, Estun Automation Co.,Ltd. disclosed its intent to absorb and merge with its wholly-owned subsidiary, Nanjing Estun Automatic Control Technology Co., Ltd.

The stated purpose of this move is to streamline the corporate management structure, consolidate resources, enhance operational management efficiency, and reduce administrative costs. Upon completion of the absorption and merger, the legal entity status of Nanjing Estun Automatic Control Technology will be dissolved.

All of the subsidiary's business operations, assets, liabilities, and other rights and obligations will be fully assumed and inherited by the parent company, Estun Automation Co.,Ltd..