Hong Kong Stock Market News | FIT Hon Teng Group Surges Over 7%, Huawei's Weekly Smartphone Sales Soar to Become the Top Domestic Market Share
Fujikon Group surged more than 7%, reaching a 7.46% increase at the time of writing, with a closing price of HKD 0.72 and a trading volume of HKD 10.97 million.
According to the Zhongtong Finance APP, FIT Hon Teng Group (02038) rose more than 7%, with a 7.46% increase at the time of publication, reaching HKD 0.72, with a turnover of HKD 10.97 million.
In terms of news, after the release of the Mate60 series under the "Pioneer Plan" on August 29th, Huawei's smartphone sales have experienced rapid growth, with a YoY growth rate of 91%, 46%, 83%, and 95% in the past four weeks. The market share of Huawei smartphones has also increased from around 10% before the release of the Mate60 series to 19.4% in the W40, ranking first in the market.
Galaxy Securities believes that the performance of individual stocks in the consumer electronics industry chain will be different from the golden decade of smartphones in the past. The core of this round of consumer electronics market is the strong comeback of Huawei smartphones and the "butterfly effect" generated by the unexpected sales volume. In addition, consumer electronics stocks have been declining for the past two years, and the industry is expected to reach a turning point in the fourth quarter of 2023, with significant destocking effects. At the same time, overall sales are expected to rebound next year.
