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

Novautek Technologies

12/02/2025 04:40

** 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))