Market Insight | FIT HON TENG Precision rose nearly 4% in the closing session, and will release its performance after-hours today. Institutions are optimistic about the second half of the year, focusing on AI edge computing and Apple's upgrade cycle

Zhitong
2024.08.12 07:37
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FIT HON TENG surged nearly 4% at the close, rising by 3.18% as of the time of publication to HKD 2.27, with a turnover of HKD 44.2404 million. On the news front, FIT HON TENG is set to release its performance after the market closes today. The company previously announced a performance forecast for the first half of the year, expecting a net profit of USD 28 to 33 million for the first half of the year, compared to a net loss of USD 9 million in the first half of 2023, indicating a turnaround year-on-year. CICC pointed out that the profit figures released by the company are slightly weaker than market expectations, with investors concerned about the pace of the company's full-year performance target realization and whether the high OPEX caused by the new AirPods production line and Voltaira automotive electronics business can be alleviated in the second half of the year. The bank recently stated that the Apple AI-driven iPhone upgrade cycle and the accelerated penetration of AI PC ARM architecture are expected to boost the shares and value of domestic Apple industry chain companies like FIT HON TENG; the Blackwell platform delays but does not change the long-term positive trend, focusing on the comprehensive growth in the supply chain in the second half of the year, and recommending attention to server-related industry chains such as connectors/interfaces, cooling, and power management manufacturers, including FIT HON TENG

According to the Wise Finance APP, FIT HON TENG (06088) rose nearly 4% in the final trading session, with a 3.18% increase as of the time of publication, reaching HKD 2.27 with a turnover of HKD 44.2404 million.

On the news front, FIT HON TENG is set to release its performance after the market closes today. The company previously announced a profit forecast for the first half of the year, expecting a net profit of USD 28-33 million for the first half of the year, compared to a net loss of USD 9 million in the first half of 2023, indicating a turnaround year-on-year. CMB International pointed out that the profit figures released by the company are slightly weaker than market expectations, with investors concerned about whether the company can meet its full-year performance guidance targets and whether the high OPEX caused by the new AirPods production line and Voltaira automotive electronics business can be alleviated in the second half of the year.

The bank recently stated that the AI-driven iPhone upgrade cycle by Apple and the accelerated penetration of AI PC ARM architecture are expected to continue to boost the share and value of domestic Apple industry chain companies such as FIT HON TENG; the Blackwell platform's delay does not change the long-term positive trend, focusing on the comprehensive growth in the supply chain in the second half of the year, and recommending attention to server-related industry chains such as connectors/interfaces, cooling, and power management manufacturers, including FIT HON TENG

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