HK Stock Market Move | Cig Shanghai (06166) continued to decline after its debut on the market. It fell over 8% again in the afternoon, only slightly higher than the IPO price.

On the first day of listing, Cig Shanghai (06166) soared to 109 Hong Kong dollars, but later the stock price continued to decline. Today, it hit a low of 76.45 Hong Kong dollars, only up slightly over 10% from the IPO price of 68.88 Hong Kong dollars. As of the time of reporting, it fell by 7.07%, closing at 77.6 Hong Kong dollars, with a turnover of 89.6526 million Hong Kong dollars. On the news front, the third-quarter reports recently dragged down the optical communication sector. Eoptolink Technology Inc., and Suzhou TFC Optical Communication both saw a slight decline in Q3 revenue compared to the previous quarter, breaking the company's continuous growth trend. Zhongji Innolight maintained a steady performance with revenue growth both year-on-year and quarter-on-quarter in Q3. Guosheng Securities pointed out that the overall performance of the industry in the third quarter was relatively flat, and the optical communication industry is in a transition period from 800G to 1.6T, with short-term performance fluctuations during the technological transition. With the industry's prosperity improving in the fourth quarter, the industry will enter a new round of growth cycle. According to the prospectus, Cig Shanghai mainly generates revenue from selling broadband, wireless, and optical module technology products. According to Frost & Sullivan data, the company is one of the few companies that provide these three types of technology products to global customers. The company's third-quarter performance report for 2025 showed high-quality growth, with the core DRIVE coming from the high-speed optical module and telecom broadband access, the two main businesses. The performance of the high-speed optical module business was outstanding, with the demand for global data center construction driving a sharp increase in orders. The company achieved high-quality shipments through continuous capacity improvement and efficient supply chain.