This Hong Kong stock is not focused on its main business and is instead speculating in the stock market, buying 3.6 million shares of NVIDIA.
BRAINHOLE TECH (02203) announced that on January 9, 2024, the company purchased a total of 890 shares of NVIDIA on the open market for a total cost of approximately USD 500,000 (equivalent to approximately HKD 3.6 million) (excluding transaction costs). On the same day, the company further sold a total of 13,700 shares of DraftKings on the open market for a total cost of approximately USD 500,000 (equivalent to approximately HKD 3.7 million) (excluding transaction costs), in addition to the previously disclosed sale of DraftKings shares. According to the company's official website, BRAINHOLE TECH (formerly known as Taibang Group International Holdings Limited) is an investment holding company primarily engaged in the production and trading of electronic and electrical components. The company operates through two main divisions. The production division sells electronic and electrical parts and components produced by the company, including diodes, transistors, rectifiers, and surge absorbers. These products are mainly used in smart consumer electronic devices. The trading division buys and sells electronic and electrical parts and components sourced from third-party suppliers. The company conducts business in the domestic market as well as overseas markets such as the United States, Europe, and Asia. The company is also involved in the semiconductor business, and investing in NVIDIA stocks may be more profitable than conducting its own business.
BRAINHOLE TECH (02203) announced that on January 9, 2024, the company purchased a total of 890 shares of NVIDIA on the open market for a total cost of approximately USD 500,000 (equivalent to approximately HKD 3.6 million) (excluding transaction costs).
On January 9, 2024, in addition to the previously disclosed sale of DraftKings shares, the company further sold a total of 13,700 shares of DraftKings on the open market for a total cost of approximately USD 500,000 (equivalent to approximately HKD 3.7 million) (excluding transaction costs).
On the official website, the company is described as follows:
BRAINHOLE TECH (formerly known as Taibang Group International Holdings Limited) is an investment holding company mainly engaged in the production and trading of electronic and electrical components. The company operates through two main divisions. The production division sells electronic and electrical parts and components produced by the company. Its self-produced products mainly include diodes, transistors, rectifiers, and surge absorbers. Its products are mainly used in smart consumer electronic devices. The trading division buys and sells electronic and electrical components and parts purchased from third-party suppliers. The company conducts business in the domestic market as well as overseas markets such as the United States, Europe, and Asia.
The company can also be considered as being in the semiconductor business, but it may be more profitable to invest in NVIDIA stocks rather than conducting its own business.