HK Stock Market Move | MOBVOI (02438) surged by 40% on high trading volume. The core business revenue of AIGC in the first half of the year increased significantly, highlighting the company's first-mover advantage.

MOBVOI (02438) surged by 40% on high trading volume, reaching 1.07 Hong Kong dollars as of the release of this report, with a total turnover of 12.7073 million Hong Kong dollars. In terms of news, MOBVOI's mid-term performance in 2024 showed that the company's overall revenue in the first half of the year was 163 million yuan, with AIGC's main business revenue growing significantly to 92.3 million yuan, an increase of 123.8% year-on-year. From 2022 to 2023 and up to June 30, 2024, the proportion of AIGC revenue to total revenue has continued to increase, reaching 8.0%, 23.2%, and 56.7%, respectively. Huaxi previously pointed out that the company has a significant first-mover advantage in the AIGC application field, and as the industry space rapidly expands, the flywheel effect is expected to continue. It is anticipated that AIGC-related services will support the company's rapid performance growth, while the enhancement of AIGC capabilities is expected to create synergies with the other two business lines.