HK Stock Market Move | YOFC (06869) rose by over 11% again. Institutions say that ByteDance's research and development investment leads its peers, and the development of AI is driving the growth in demand for high-speed copper cables.

YOFC (06869) rose by more than 11%, as of the time of publication, it increased by 11.68%, reaching 17.78 Hong Kong dollars, with a trading volume of 1.04 billion Hong Kong dollars. In terms of news, recent media reports stated that ByteDance's capital expenditure in 2025 will exceed 150 billion yuan, mainly for artificial intelligence. A person in charge of ByteDance told reporters that this information is false. The person also mentioned that ByteDance attaches great importance to the development and investment in the field of artificial intelligence. Zheshang stated that the dawn of domestic computing power demand has arrived, ByteDance has made a huge investment in AI, with a capital expenditure of 80 billion yuan in 2024, close to the total of Baidu, Alibaba, and Tencent, leading in research and development investment among peers. It is reported that Broadex Technologies previously disclosed the announcement of the proposed acquisition of the 18.16% stake in Changxin Sheng held by minority shareholders of the controlling subsidiary Changxin Sheng for 391 million yuan. An analysis institution pointed out that Broadex Technologies originally did not produce AEC products, its main product was AOC, and later it was acquired by Yangtze Optical Fibre And Cable Joint Stock. Yangtze Optical Fibre And Cable Joint Stock's subsidiary Changxin Sheng primarily operates in AEC, ACC, DAC, copper cables, etc., in order to solve the industry competition issues, Yangtze Optical Fibre And Cable Joint Stock transferred Changxin Sheng to Broadex Technologies as a subsidiary. Changxin Sheng has cooperated with domestic companies such as Cambricon and ByteDance in the field of AEC.