Movement Alert｜Iluvatar CoreX Rises 7.08% in Regular Trading, Boosted by Haitong International Outperform Initiation and Stock Connect Inclusion

Market Focus05-26

On May 26, Iluvatar CoreX (09903.HK) rose 7.08% in regular trading, trading at 495.4 HKD/share, with trading volume of 82.23 million HKD.

On the news front, Haitong International initiated coverage on Iluvatar CoreX with an Outperform rating and a target price of 596.7 HKD, implying significant upside from current levels. The broker highlighted the company as a pioneer in China's dual-line GPU space, noting its DeepSpark ecosystem as a core competitive advantage and that the current share price reflects a notable discount to its potential valuation.

Additionally, the company was confirmed for inclusion in the Hang Seng Composite Index effective June 8, making it eligible for Stock Connect, which serves as a near-term re-rating catalyst. Haitong noted that the company's revenue doubled year-over-year to 1.034 billion RMB, with projected growth of 126% and 133% over the next two years, driven by TG Gen 3 ASP increases and ZK production ramp. At current levels, the stock trades at approximately 20x forward price-to-sales, well below A-share peers averaging around 56x.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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