The stock of IMAGI INT'L (ASX: 00585) surged over 25% during the session, bringing its cumulative gains since the beginning of April to more than 300%. At the time of writing, the share price is up 23.68% to HK$3.97, with a turnover of HK$143 million.

IMAGI INT'L announced in April this year that Weihuatou Holdings (ASX: 00622) transferred all of its 141 million shares in the company to an independent third party, Mr. Han Xuyang. Upon completion, Mr. Han Xuyang will become the company's principal and single largest shareholder, holding a 17.10% stake. Concurrently, Mr. Han Xuyang has been appointed as the company's Chairman and Executive Director. Public information shows that Mr. Han Xuyang is the CEO of Zhongyu Group, which was privatised and delisted at the end of 2023.

It is noteworthy that Summi (Group) Holdings Limited (ASX: 00474) announced last month its subscription for a total of 2,102 shares in IMAGI INT'L's subsidiary, IFGL, for a total consideration of HK$167 million. Following this transaction, Summi's stake in IFGL will increase from the current 19.74% to 30.70%. IFGL is primarily engaged in providing integrated financial services. IFGL's shareholding in Summi will also rise from 16.67% to 28%. Consequently, IMAGI INT'L's stake in IFGL will be diluted from 79.21% to 68.39%.