Hong Kong Stocks Movement | FIBOCOM (00638) Drops Over 5% Despite Strategic AI Toy Partnership with Roborock

Stock News12-03

FIBOCOM (00638) retreated more than 5% in trading, though it still maintains a weekly gain exceeding 8%. At press time, the stock was down 5.14% at HK$17.9, with a turnover of HK$92.8 million.

The decline comes amid market reaction to Huawei's AI-powered emotional companion toy "Smart Haha," which sold out instantly upon its official launch on November 28 at 10:08 AM. Priced at RMB 399, the product was co-developed by Roborock and Huawei.

FIBOCOM has entered a strategic partnership with Roborock to jointly advance the global expansion of their AI-driven trendy toy product "Fuzozo."

The company's Q3 report revealed a 13.69% year-on-year decline in revenue to RMB 5.366 billion, with net profit attributable to shareholders plunging 51.50% to RMB 316 million. CITIC Securities noted that comparable revenue grew 7%, but profitability was impacted by lower gross margins. The firm remains optimistic about its ongoing initiatives in edge AI and robotics solutions.

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