According to Zhitong Finance APP, HIPINE (02583) opened lower today but rallied in the afternoon, with gains widening past 20%. Notably, the stock has seen sharp volatility recently, hitting a new low of HK$38.04 intraday on October 8 before rising for three consecutive days, accumulating a gain of nearly 40%. As of press time, it is up 20.21% at HK$53.9, with a turnover of HK$199 million.
On the news front, southbound funds have continued to increase their positions in HIPINE recently. As of October 12, the Stock Connect shareholding ratio rose to 7.47%. Since the start of October, the holding volume has increased by more than 60% compared with the end of September, ranking first among Stock Connect targets in terms of increase.
In the first half of this year, HIPINE achieved revenue of RMB 333 million, up 15.9% year-on-year; adjusted profit for the period was RMB 99.084 million, up 62.9% year-on-year. By product, watch revenue was RMB 237 million, up 58.0% year-on-year, with its share rising from 52.1% in the same period last year to 71.0%.
The company previously announced the launch of the world's first pure gold smart ring and received the industry's first special certificate for a pure gold smart ring issued by Beijing Guoshou Jewelry Testing Co., Ltd., marking a key breakthrough in the "pure gold + smart" product model from concept to testable, verifiable, and commercially viable implementation.
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