HK Stock Market Move | SUNEVISION (01686) soared and fell back, dropping more than 7%. Institutions point out that its current valuation already reflects positive driving factors of the fundamentals.

SUNEVISION (01686) surged by 7% during intraday trading, but quickly fell back and turned into a decline. As of the time of writing, it has dropped by 7.68%, falling by HK$8.9, with a turnover of HK$3.73 billion. On the news front, SUNEVISION recently released its interim financial report for the period ending December of last year. Its interim revenue was HK$1.47 billion, a 14% increase year-on-year, primarily driven by the increase in power capacity and prices for new data centers/old project customers. Adjusted EBITDA was HK$1.053 billion, up 17.1% year-on-year. BOCOM INTL pointed out that SUNEVISION's performance is in line with expectations, but believes that the company's current valuation is similar to that of leading international companies in the industry and fully reflects positive driving factors in the fundamentals. Therefore, they have downgraded their rating to "Neutral" as they see limited further upside in the short term.