AGTECH HOLDINGS (08279) surged more than 23% in early trading, extending its month-to-date gains to over 120% and a year-to-date rally of over 700%. The stock was last trading at HK$1.53, up 13.33%, with a turnover of HK$142 million.

On July 7, the Hong Kong Gold Central Clearing and Settlement System officially commenced trial operations, completing its first batch of gold deposits and initial trade settlements. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that the goal of building an international gold market in Hong Kong is clear: to enhance the nation's influence and voice in the global precious metals market through cooperation with the Shanghai Gold Exchange, aiming to increase Hong Kong's gold storage capacity to over 2,000 tonnes within the next three years.

Notably, in June, AGTECH HOLDINGS submitted an application to the Hong Kong Stock Exchange for a transfer to the Main Board. On July 23, the company announced that its subsidiary, TGX, has officially partnered with the Hong Kong Gold Exchange to establish a joint venture. This collaboration aims to deepen strategic cooperation in the digital infrastructure for precious metals trading and to drive a comprehensive upgrade of Hong Kong's precious metals trading, clearing, and settlement systems.