GLOBAL NEW MAT INTERNATIONAL (06616) rose more than 8% before noon. As of the time of writing, the stock was up 8.14%, trading at HK$9.3, with a turnover of HK$26.0152 million. On the news front, GLOBAL NEW MAT INTERNATIONAL announced that all conditions precedent under the subscription agreement have been fulfilled, and the issuance of HK$1 billion in convertible bonds was completed on January 6, 2026. The convertible bonds have been listed on the Vienna MTF operated by the Vienna Stock Exchange since January 6, 2026. The company has also obtained approval from the Stock Exchange of Hong Kong for the listing and trading of the shares to be issued upon conversion. Jinyufu Securities released a research report stating that the successful completion of this overseas public financing at the start of the year validates the previously cited institutional optimism and provides significant capital support for GLOBAL NEW MAT INTERNATIONAL's global expansion. The brokerage believes that while the company's short-term stock price has experienced volatility due to market sentiment fluctuations, its core growth thesis remains unchanged—the synergistic effects from mergers and acquisitions continue to be realized, its leading global position is steadily being reinforced, and the benefits from industry growth are persistently materializing. The company's current valuation is below the industry average and is expected to see further recovery.