On July 23, CIG rose 5.43% in regular trading, trading at HK$91.6/share, with turnover of HK$141 million. The stock continued its oversold recovery rally for a third consecutive session.
On the news front, overnight US optical communication stocks staged a strong rebound, providing positive sentiment for the sector. Previously, the optical communication sector had been hit by concerns over cross-border manufacturers shipping 800G optical modules sparking price war fears, as well as a New York State data center ban, driving CIG's Hong Kong-listed shares down over 50% cumulatively, with clear short-term oversold characteristics.
Meanwhile, the company previously disclosed that H1 net profit attributable to shareholders is expected to grow 156.65% to 197.18% year-over-year to RMB 310.3 million to RMB 359.3 million, driven by strong demand for high-speed optical modules and significant gross margin improvement from product structure upgrades. Fundamental support continues to attract recovery buying from investors.
Within the Communications Equipment sector, peer YOFC rose 3.61%.
(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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