Shares of 160 Health (02656) surged nearly 15% at the opening bell. It is worth noting that the company, which listed on the stock exchange one year ago, is now facing a lock-up expiry today. Data shows that a total of 28 shareholders are affected by this unlock, with cumulative shares released amounting to approximately 164 million shares.

As of the time of writing, the stock is trading up 14.97% at HK$8.60, with a turnover of HK$8.43 million.

On the news front, 160 Health announced that on September 16, one of its indirect wholly-owned subsidiaries, Shenzhen 160 Network Technology Co., Ltd., entered into a strategic cooperation framework agreement with a limited liability company registered in Shenzhen, China. The partner has preliminarily agreed to procure a certain scale of enterprise-grade AI computing infrastructure, with an estimated total cooperation value of approximately RMB 650 million and a one-year term for the agreement.

According to the announcement, the partner focuses on the enterprise-grade computing infrastructure sector, providing services such as equipment leasing and AI cloud computing. It is a national high-tech enterprise established for over a decade.