Movement Alert｜CIG Drops 5.28% in Regular Trading, Optical Communication Sector Pulls Back Amid Broad Market Weakness

Market Focus09-24 13:52

On September 24, CIG fell 5.28% in regular trading, trading at HK$117.0/share, with turnover of HK$403 million. The decline came as the broader Hong Kong market weakened, with the Hang Seng Index down 0.57% and the Hang Seng Tech Index down 0.93%, dragging chip, semiconductor, and optical communication stocks lower across the board.

CIG had previously rallied sharply on multiple positive catalysts, including batch shipments of 800G optical transceiver modules following multi-client certifications, expectations for 1.6T mass production in the second half of the year, and a significant target price upgrade to RMB 424 by Guotai Haitong Securities. The company reported first-half revenue of RMB 2.705 billion, up 32.92% year-on-year, with net profit surging 171.08% to RMB 328 million. The accumulated gains from these catalysts amplified short-term profit-taking pressure during the broader selloff.

Within the Communications Equipment sector, COMBA bucked the trend with a 15.96% gain, while peers declined broadly: TRIGIANT down 5.15%, ZJ INNOLIGHT down 4.37%, YOFC down 4.19%, and ZTE down 0.8%.

(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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