Hong Kong Stock Market Midday Review

COSCO Shipping Energy (01138) surged over 5% again, with VLCC freight rates remaining at extremely high levels. Analysts suggest monitoring the traffic conditions of the strait.

According to Zhitong Finance, the Hang Seng Index fell by 0.17%, or 43 points, to 25,824 points, while the Hang Seng Tech Index dropped by 0.81%. The morning trading volume of Hong Kong stocks reached HKD 109 billion.

The storage concept performed strongly in early trading as overnight U.S.-listed storage stocks hit new highs amid an ongoing supply crisis. Gigadevice (03986) surged by 11%, and Montage Technology (06809) rose by 6.8%.

Large model concept stocks rallied, with MINIMAX-W (00100) surging over 12% after partnering with Tencent Cloud to smoothly operate a million-level Agent RL sandbox. Zhipu (02513) gained over 6%.

COSCO Shipping Energy (01138) surged over 5% again, with VLCC freight rates remaining at extremely high levels. Analysts suggest monitoring the traffic conditions of the strait.

Changfeng Pharmaceutical (02652) rose over 7% as its innovative R&D pipeline for high-end respiratory system formulations accelerated into the harvest phase.

GDS Holdings-SW (09698) surged over 12% as its adjusted EBITDA last year increased by 10% year-over-year, with robust operational data performance.

China Oriental Education (00667) rose over 6% as its net profit last year increased by 47.5% year-over-year, with a final dividend of HKD 0.3 per share.

Foxconn Interconnect Technology (06088) surged another 16% as NVIDIA’s new rack design might adopt both optical and copper solutions, with strong AI demand driving significant earnings growth.

ZTO Express-W (02057) rose by 7% as its full-year adjusted net profit reached CNY 9.5 billion, accompanied by a newly authorized USD 1.5 billion share repurchase plan.

Jiaxin International Resources (03858) surged over 6% as it turned profitable for the year, earning over HKD 300 million, driven by supply-demand mismatches boosting tungsten prices.

Auto stocks collectively retreated as upstream prices for metals and storage chips surged sharply. Automakers may raise prices to address cost pressures. Li Auto-W (02015) fell by 6%, and XPeng Motors-W (09868) dropped over 4%.

Smoore International (06969) plunged over 15% as its net profit for last year declined approximately 18.5% year-on-year to RMB 1.062 billion.

Kingboard Laminates (01888) dropped more than 4% after Kingboard Group sold up to 130 million shares at an 8.7% discount.



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