Hong Kong Stock Movement | FIBOCOM (00638) Surges Over 7% as Edge AI Development Accelerates; Institutions Bullish on Company's Emerging Business Layout

Stock News01-12

FIBOCOM (00638) rose more than 7%. As of the time of writing, the stock was up 7.5%, trading at HKD 18.05 with a turnover of HKD 209 million.

On the news front, a Baku AI bag, developed by FIBOCOM based on its self-developed MagiCore 2.0 lightweight computing companion solution, was recently showcased at the Alibaba Cloud Tongyi Exhibition.

Furthermore, FIBOCOM recently stated on an interactive platform in response to investor inquiries that its wireless communication modules and solution products, such as 5G and V2X, can be applied in the autonomous driving field and are currently primarily used in smart vehicle cockpits.

Shenwan Hongyuan previously indicated that as a core player in the global IoT module market, FIBOCOM is expected to see continued performance growth driven by edge AI/robotics and its strategic layouts in automotive/FWA.

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