Huayi shares rise after buy

Huayi Brothers Media, one of China's largest film production companies, saw its shares rise to the 10 percent upper limit Wednesday after it announced it would acquire a 50.88 percent stake of mobile game maker Guangzhou Yinhan Technology for 672 million yuan ($109.6 million), or 15.87 times the stake value.

Yinhan Technology is estimated to have generated sales revenues of 95.17 million yuan and net profit of 53.1 million yuan in the first half of this year.

Its key product Space Hunter contributed more than 80 percent of its sales revenues.

The game is expected to generate further revenues after it is launched in the overseas market.