what is the purpose of selling treasury shares?

will the rise in raw material price (eg. steel) affect the profit margin of Kpower? since the order book of Kpower is quite huge, if the raw material price keep increasing wouldnt it be very bad for Kpower? please correct me if i am wrong. maybe the purpose of fundraising is to ease the cash flow of Kpower's project?

The chips shortage might affect D&O business. Most of D&O's revenue comes from Asia, which i believe China is the main stream of D&O revenue. However, China local chip supply chain is vulnerable, and this condition might last for the next six months.
In long term, the automotive lightning market is expected to grow at 5-8 % CAGR and the LED segment is expected to grow at 10% CAGR. EV and most of the conventional car will be using LED lightning system in the future.
as for the valuation of D&O, the counter is trading at the price of RM 2.59 as for today and i believe it is slightly overvalue. The valuation method i am using is the PEG method. I assumed the FPE of D&O will be around 40, and the growth rate will be the CAGR of the LED market which is 10. the PEG of D&O will be 4. However, D&O business might be growing at a higher rate (more than 10). thus i believe this counter is slightly overvalue.
as for the technical analysis, i agree that RM2.56 is a support level. for those who entered above RM2.56, it is important to set your cut loss and follow your trading plan strictly. for those who entered at a relatively low price, it is okay to hold your position. Personally, i will not take profit based on the price of the stock. instead i will take profit but using a method called trailing stop loss