On July 17, Cambridge Technology fell 6.62% in regular trading, trading at 94.85 HKD/share, with turnover of HKD 270 million. The optical communications sector extended its correction, with peer YOFC down over 4% and ZTE down over 5% in the same session.
On the news front, overnight US technology hardware, optical module, and CPO stocks suffered a broad selloff, transmitting bearish sentiment to Hong Kong-listed peers. Additionally, New York State's executive order suspending environmental permit approvals for data centers consuming 50 megawatts or more continues to weigh on sector sentiment. Morgan Stanley warned that community opposition has led to approximately USD 156 billion worth of projects being cancelled or delayed, with USD 130 billion affected in Q1 alone, putting pressure on the timing and intensity of the data center capital expenditure cycle.
The stock had already declined over 5% on July 16 following profit-taking after a strong half-year earnings pre-announcement. The company earlier projected H1 net profit of RMB 310-359 million, up 157%-197% year-over-year, driven by robust high-speed optical module demand.
(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.)
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