BUZZ-HK-listed Novautek soars more than six times on moving to AI robotics business

Reuters

2025/02/12

** Novautek Technologies 0519.HK soars as much as 525% to HK$0.55, highest since January 2019

** Stock last up 235%, set for record one-day pct gain; top pct gainer on the Hong Kong bourse

** Co officially changes name to Novautek Technologies from Applied Development to reflect transformation into AI robotic development

** Novautek, which focuses on AI tech, autonomous driving, and application and development of AI robots, will work with Alibaba 9988.HK to sell AI robots globally

** Says its AI robots have been applied in sanitation, patrolling, warehousing, logistics and transportation services in Hong Kong and China

** Stock climbed 40% last year

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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