Luff Harmonic (3952.HK) fell 4% during regular trading to HK$89.80.
The drop follows recent corporate actions: on July 10, the company completed a placement of 7.283 million new H-shares at HK$107.70 per share and issued convertible bonds with a principal amount of RMB 1.36 billion, raising a total of approximately HK$2.35 billion. The funds will optimize the shareholder structure and support global expansion.
Additionally, Luff Harmonic signed a strategic memorandum of understanding with Italian technology service group Lutech to develop AI transformation solutions compliant with EU regulations. The partnership aims to commercialize AI token factories in Europe, marking a significant step in expanding the company's data tokenization capabilities overseas.