On October 2, MININGLAMP-W fell 6.03% in regular trading, trading at HK$34.18/share, with turnover of HK$1.8577 million.

On the news front, the company disclosed a supplemental announcement on September 30, revealing plans to acquire approximately 19.07% of Pulink Software for a total cash consideration of approximately RMB 859 million, at a per-share price of RMB 11.38. Simultaneously, the company will reallocate RMB 450 million of unused IPO proceeds to strategic investments and acquisitions. As of June 30, the company had raised net IPO proceeds of approximately RMB 958 million, with roughly RMB 650 million remaining. The acquisition cost accounts for nearly 90% of total IPO net proceeds.

Market concerns center on the substantial cash outlay amid the company's ongoing losses. MININGLAMP-W reported a first-half net loss of RMB 64.2 million, despite revenue rising 18.0% year-over-year to RMB 760 million and losses narrowing 68.5%. With research and development spending surging 52.3% to RMB 229 million in the first half, the heavy capital commitment to the Pulink acquisition has raised questions about pressure on cash reserves and operational sustainability going forward.

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