Divergent Opening for China's Major Indices as Zhongji Innolight Hits Record High, MANYCORE TECH Surges 171.65% on Debut

Deep News04-17 09:38

On Friday, China's three major stock indices opened with mixed performance. The Shanghai Composite Index started 0.3% lower, while the Shenzhen Component Index opened 0.07% higher and the ChiNext Index began the session up 0.47%.

In the Hong Kong market, the Hang Seng Index opened 0.69% lower, and the Hang Seng Tech Index declined 0.72% at the open. MANYCORE TECH saw its share price surge 171.65% on its first day of trading in Hong Kong.

Kweichow Moutai opened 4.3% lower. The company reported its first annual revenue decline since listing, with 2025 revenue reaching 168.88 billion yuan, down 1.21% year-on-year. Net profit attributable to shareholders fell 4.53% to 82.32 billion yuan. Despite this, the company announced a record annual dividend of 65 billion yuan and initiated two rounds of share repurchases.

Zhongji Innolight Co.,Ltd. opened 3.9% higher at 841.00 yuan, setting a new record high. The company reported first-quarter 2026 revenue of 19.496 billion yuan, a substantial increase of 192% year-on-year. Net profit attributable to shareholders surged 262% to 5.735 billion yuan, with single-quarter profit already exceeding the full-year 2024 figure.

Updates to follow.

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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