It is reported that Weimar plans to backdoor "Apollo Travel" Hong Kong shares, which once rose more than 17% in intraday trading.

CTOnews.com, December 6, Apollo Travel announced on the Hong Kong Stock Exchange last night that the company is currently planning to acquire a company engaged in smart electric vehicles. The target company's business covers a range of intelligent electric vehicles equipped with advanced technology, targeting young and tech-savvy users in China.

Apollo said that as of the announcement date, a potential acquisition is still under negotiation and the company has not yet reached a final agreement on a potential acquisition. As a result, potential acquisitions may or may not be made. If the acquisition is confirmed, the company will make further announcement in accordance with the listing rules and the acquisition Code in due course.

CTOnews.com learned that Hong Kong stocks opened today and Apollo travel rose by more than 17% at one point. Apollo's shares rose 7.14 percent to HK $0.30 by midday break, with a total market capitalization of HK $2.884 billion (about 2.584 billion yuan).

According to the Power Plant, Weimar plans to list in Hong Kong stocks through backdoor Apollo Wisdom Travel. In response, Weimar responded that it would not comment on the market rumors and please pay attention to the company's official information.