QUANTGROUP (HKEX: 02685) shares opened sharply higher, extending gains after a significant rally in the previous session.

The stock opened nearly 15% higher on Wednesday, following a surge of 111% on Tuesday. At the time of writing, the shares were up 14.97% to HK$27.18, with a turnover of approximately HK$10.3 million.

This upward movement follows several company announcements. On June 4, the company stated it is advancing the validation of artificial intelligence technology within the food and beverage consumption sector. It reported completing multiple technical validations in this area, with stable performance noted during the research and testing phases.

Additionally, the company disclosed that a subsidiary has entered into a strategic cooperation framework agreement with Beijing Ruihong. This partnership aims to facilitate the commercial deployment of embodied intelligent robots across various scenarios.

In a separate development, the company announced that its controlling shareholders, including Chairman and Executive Director Zhou Hao and Sun Jinghuai, have voluntarily agreed to extend their share lock-up period. The extension adds two months, pushing the new expiry date to March 26, 2027. The controlling shareholders currently hold approximately 38.05% of the company's equity.