On July 31, TIME INTERCON rose 13.25% in regular trading, trading at HK$13.66/share, with turnover of HK$56.52 million. The stock staged a sharp rebound following two consecutive sessions of decline on July 28 and July 30, during which it fell 5.77% and 5.14% respectively, dragged down by a broad correction in the global AI computing hardware sector.
On the fundamental side, the company issued a positive profit alert in early July, projecting first-half net profit growth of 150% to 170% year-over-year, primarily driven by revenue increases in data center and server businesses, as well as higher contributions from associates. Guosheng Securities and Macquarie both initiated coverage with Buy ratings, setting target prices at HK$31 and HK$32.5 respectively, implying significant upside from the current trading level. The wide discount to broker targets reinforced capital inflow after the steep short-term correction.
Additionally, the broader optical communication and storage concept stocks rallied collectively at open, with sector peers posting gains of 8% to 15%, providing a favorable backdrop for the rebound.
(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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