HK Stock Market Move | TIME INTERCON(01729) rose more than 6% in the morning, driven by AI driving high-speed copper cable demand. Major shareholder Luxshare Precision Industry and the company are expected to benefit.

TIME INTERCON (01729) rose by more than 6% in the morning, reaching a 6.1% increase at the time of writing, trading at 4.35 Hong Kong dollars with a transaction amount of 22.3346 million Hong Kong dollars. On the news front, Huang Renxun recently announced in a speech that Nvidia will continue to use copper cable interconnect solutions and will continue to use copper cables in the coming years. According to LightCounting's report, the compound annual growth rate of high-speed copper cables is expected to be 25% from 2023 to 2027, and by 2027, the shipment volume of high-speed copper cables is expected to reach 20 million units. It is reported that in February 2022, Luxshare Precision Industry acquired TIME INTERCON through its subsidiary Luxshare Precision Industry Limited. As of June 30, 2024, Luxshare Precision Industry Limited holds 70.95% of its equity. It is worth noting that Wang Laichun, Chairman and CEO of Luxshare Precision Industry, stated in the company's financial report conference call in August last year that the company's technology and landing capabilities in the copper connectivity project have reached a leading global level and have been recognized by mainstream customers. At the same time, substantial business progress has been made in the fields of optical connectivity, heat dissipation, and power management around terminal projects. Therefore, the growth rate of this sector will be better than expected in the next 2-3 years.