HK Stock Market Move | DEEP SOURCE (00990) rose nearly 4% in the final trading session, planning to acquire 100% of Tortuga de Oro S.A.'s issued share capital to build an integrated lithium value chain.

DEEP SOURCE (00990) rose nearly 4% in the final trading session, rising 3.85% at the time of reporting to 0.81 Hong Kong dollars, with a trading volume of 7.34 million Hong Kong dollars. On the news front, DEEP SOURCE announced that on April 24, 2026, the company (as the buyer) entered into a share purchase agreement with the seller XIZANG ZHUFENG RESOURCES (Hong Kong) Limited. The company agreed to acquire, and the seller agreed to sell 100% of the issued share capital of the target company Tortuga de Oro S.A. for a total consideration of 70 million US dollars (approximately 546 million Hong Kong dollars). The company intends to launch and build an integrated lithium value chain, with products covering lithium spodumene ore, lithium spodumene concentrate, and lithium carbonate, extending its business lines to distribution, beneficiation, and toll processing. Through equity investments in lithium salt lakes and spodumene resources (including projects in Tibet, Australia, and Argentina), the company aims to secure upstream supply. It also plans to establish processing and manufacturing facilities in Malaysia to convert lithium spodumene ore into lithium spodumene concentrate and build lithium carbonate production capacity (collectively referred to as the "lithium business"). The company will primarily develop its lithium business through investments in companies with lithium-related projects and assets (including but not limited to companies in Tibet, Australia, and Argentina) and acquisitions of equity in these companies.