Trading in CPM GROUP (01932) resumed today, with its share price surging as much as 220%. At the time of writing, the stock was up 144.98% to HK$0.61, with a turnover of HK$6.18 million. The movement follows a joint announcement from Beihai Group and CPM GROUP. Prime Surplus has acquired 88.72 million shares from Quansheng Holdings for HK$8.87 million, representing approximately 4.66% of the total issued shares. Following this transaction, the offeror and parties acting in concert now hold about 34.38% of the total issued shares, triggering a mandatory conditional cash offer for all issued shares. The cash offer price for Beihai shares is set at HK$0.1 per share, a discount of roughly 43.82% to the last closing price of HK$0.178 before the trading halt. The offerors are Prime Surplus and New Industrial Investments. New Industrial Investments intends to fund the Beihai offer using its internal resources, while Prime Surplus plans to use the personal financial resources of Xu Haoquan. Xu Haoquan also serves as a Non-executive Director of Beihai, and as an Executive Director, Chairman, and Managing Director of CPM GROUP. After the transaction, the offeror holds approximately 34.38% of the voting rights in Beihai, which in turn holds a 75% voting stake in CPM GROUP. The offeror is required to make an unconditional mandatory general cash offer. The cash offer price for CPM GROUP shares is HK$0.0562 per share, representing a discount of about 77.43% to its last closing price of HK$0.249 before the trading halt. The offeror intends to maintain the listing status of both Beihai and CPM GROUP shares on the Stock Exchange.