MEGAIN Holdings (06939) rose nearly 23% in late trading, bringing its weekly gain to over 50%. As of press time, the stock was up 21.57% at HK$1.86, with a turnover of HK$11.95 million. The surge follows an announcement by MEGAIN Holdings that it will introduce a new controlling shareholder. Geehy China, a chip platform under Ninestar Corporation, plans to invest approximately HK$169 million through an indirectly wholly-owned subsidiary to obtain a controlling stake in MEGAIN Holdings. Geehy China is directly owned 81.084% by Ninestar Corporation, 7.895% by the National Integrated Circuit Industry Investment Fund Phase II Co., Ltd., and 21 other minority shareholders each holding less than 5% of Geehy China. Public information shows that Zhuhai MEGAIN, established in 2010, is an indirect wholly-owned subsidiary of MEGAIN Holdings Limited. It primarily engages in the research, design, development, and sale of compatible consumable chips. The company's ASIC and SOC design solutions are at the forefront of chip technology, with several industry-leading technologies and numerous patents for product development.