---
title: "CHINA AOYUAN soared 147%! The founder sold more than half of the shares and introduced Multi Gold from the United Arab Emirates as the largest shareholder"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/214897374.md"
description: "China Aoyuan introduced Multi Gold from the United Arab Emirates as the largest shareholder, causing the stock price to soar by 147.9% to HKD 0.295 at one point. Founder Guo Ziwen transferred 620 million shares (16.5%) of equity, reducing his stake to 13.3% and no longer serving as the controlling shareholder. Multi Gold is seen as a strategic investor and is expected to establish important cooperation with China Aoyuan. The transfer will not affect the company's operations and financial performance. The new chairman of the board is Mohamed Obaid Ghulam Badakkan Alobeidli, who is expected to bring in more investment opportunities"
datetime: "2024-09-23T02:41:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/214897374.md)
  - [en](https://longbridge.com/en/news/214897374.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/214897374.md)
---

# CHINA AOYUAN soared 147%! The founder sold more than half of the shares and introduced Multi Gold from the United Arab Emirates as the largest shareholder

Introducing strategic investors, China Aoyuan (3883.HK) surged by 147.9% to HKD 0.295 in early trading, with trading volume exceeding HKD 46 million. Last Friday, China Aoyuan announced that founder, executive director, and chairman Guo Ziwen agreed to transfer 620 million shares, or 16.5% equity, held by Ace Rise to Multi Gold owned by Mohamed Obaid Ghulam Badakkan Alobeidli. After completion, Multi Gold will become the largest single shareholder of China Aoyuan, while Guo Ziwen's shareholding will decrease to 13.3% and he will no longer serve as the controlling shareholder. It is reported that Multi Gold is a professional investment institution in the UAE, with influential local family members participating in its management structure. China Aoyuan stated that the board sincerely believes that Multi Gold is likely to establish important strategic cooperation with the company in existing or future businesses. Multi Gold is confirmed as a "strategic investor" due to its acquisition of the target shares and its representation as a major shareholder of the company, demonstrating confidence in China's prospects. The transfer will not have any adverse impact on the company's overall operations and financial performance. Mohamed Obaid Ghulam Badakkan Alobeidli has been appointed as a non-executive director and chairman of the board. Alobeidli, 45 years old, serves as the general manager of Magnuvest Investment, which has been involved in multiple real estate projects in the UAE. Aoyuan expects Alobeidli to introduce potential investors to the company and bring more development opportunities. Guo Ziwen has been reassigned from executive director to non-executive director, no longer serving as chairman of the board, chairman of the nomination committee, and authorized representative, but will continue to provide guidance on the group's development strategy

### Related Stocks

- [03883.HK](https://longbridge.com/en/quote/03883.HK.md)

## Related News & Research

- [The Value Chain Restructuring of Hong Kong Tech: Platforms, Aggregators, and AI Infrastructure](https://longbridge.com/en/news/290204136.md)
- [Industrial And Commercial Bank Of China Stock And The Yuan Tailwind](https://longbridge.com/en/news/290188084.md)
- [Biden, Bush, Clinton slated to attend Obama presidential center opening](https://longbridge.com/en/news/290119063.md)
- [Can AI Fix China's Unmanned Retail Problems? Fengyi's Hong Kong IPO Will Test The Idea](https://longbridge.com/en/news/289934235.md)
- [Mainland China theme park operator applies for listing in Hong Kong](https://longbridge.com/en/news/289904111.md)