HK Stock Market Move | FIT HON TENG (06088) rose more than 5% and will announce its annual performance this week. The layout of AI server interconnection will help future development.

FIT HON TENG (06088) rose more than 5%, rising by 5.44% as of the press release, to 3.1 Hong Kong dollars, with a turnover of 1.29 billion Hong Kong dollars. On the news front, FIT HON TENG will announce its full-year performance for the fiscal year ending December 31, 2024 on March 12 (this Wednesday). Minsheng Securities pointed out that the company's revenue in the first three quarters of 2024 was 3.241 billion US dollars, a year-on-year increase of 9.90%, and net profit attributable to shareholders was 101 million US dollars, a year-on-year increase of 119.57%. The company's revenue has fluctuated over the past five years, but with the improvement of the company's product structure, the company's profitability has steadily increased. The gross profit margins of the company in 2021-1H24 were 14.99%/16.95%/19.23%/20.37% respectively, showing a growth trend overall. The company is actively deploying in the direction of AI server interconnection, and it is expected that the subsequent profitability will further improve. It is worth noting that Hon Hai Precision's February revenue was NT$551.383 billion, a year-on-year increase of 56.43%; achieving a 25% revenue growth in the first two months of 2025, significantly higher than the same period last year. The company's four major business segments all achieved year-on-year growth in February, reflecting the continued expansion of demand for artificial intelligence computing. Looking forward to the first quarter of 2025, Hon Hai said that the current business visibility is in line with market expectations, and the overall performance in the first quarter is expected to exceed the average level of the past five years. Compared with the same period last year, it will achieve strong growth.