Market Insight | FIT HON TENG surged more than 6% in early trading, NVIDIA GB200 will be delivered as scheduled, and the company's backplane connector products have been sampled

Zhitong
2024.08.30 03:06
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FIT HON TENG surged more than 6% in the morning session, rising 6.48% as of the time of publication to HKD 2.3, with a turnover of HKD 27.9491 million. On the news front, a spokesperson for Foxconn recently stated that Foxconn will begin delivering servers equipped with NVIDIA's GB200 processor in the fourth quarter without any delays. The future AI server is expected to become a billion-dollar revenue product for the group, with the GB200 server requiring 5000 copper cables. Analysts pointed out that previous concerns in the market about the delay in GB200 server deliveries have been a major factor in the recent continuous decline of tech stocks such as NVIDIA. CICC released a research report stating that FIT HON TENG has indicated that its supporting large customer GB200 series products, including liquid-cooled CDU components and power busbar components, have been validated and are expected to ship within this year, accounting for approximately 1-3% of the total revenue of the company this year, with even greater growth potential next year. The company's management mentioned that the backplane connector products of the GB200 series have also been sampled and are currently awaiting customer validation. Due to the strong performance of the AI server business, the management has raised the full-year network interconnection business revenue guidance from a year-on-year growth of 5-15% to a high double-digit percentage year-on-year growth

According to the Wise Finance APP, FIT HON TENG (06088) surged over 6% in the morning session, rising by 6.48% to HKD 2.3 as of the time of publication, with a turnover of HKD 27.9491 million.

On the news front, a spokesperson for Foxconn recently stated that Foxconn will begin delivering servers equipped with the NVIDIA GB200 processor in the fourth quarter without any delays. In the future, AI servers are expected to become a billion-dollar revenue product for the group, with the GB200 servers requiring 5000 copper cables. Analysts believe that previous concerns in the market about the delay in delivering GB200 servers have been a major factor in the recent consecutive sharp declines of tech stocks such as NVIDIA.

CICC released a research report stating that FIT HON TENG has indicated that the liquid-cooled CDU zero components and power busbar components supporting the GB200 series products for major customers have passed verification and are expected to be shipped within this year, accounting for approximately 1-3% of the company's total revenue this year, with even greater growth potential next year. The company's management mentioned that the backplane connector products of the GB200 series have also been sampled and are currently awaiting customer verification. Due to the strong performance of the AI server business, the management has raised the full-year revenue guidance for the network interconnection business from a year-on-year growth of 5-15% to a high double-digit percentage year-on-year growth

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