HK Stock Market Move | FIT HON TENG (06088) rises more than 4%. Hon Hai's October revenue sets a record high for a single month. Morgan Stanley is optimistic about the company's future growth in AI revenue.

FIT HON TENG (06088) rose more than 4%, as of the time of writing, it has risen by 4% to 5.46 Hong Kong dollars, with a turnover of 1.85 billion Hong Kong dollars. On the news front, on November 5th, the latest performance report released by Hon Hai showed that the AI server business has become a growth engine, with October revenue not only reaching a historical high for the same period, but also setting a record for the highest monthly revenue since the company was founded. The data shows that Hon Hai's October revenue reached 895.7 billion, surpassing September's 837 billion, and significantly higher than the same period last year's 804.8 billion, with a monthly increase of 7.01% and an annual increase of 11.29% (15.4% annual increase in terms of US dollars). A recent research report from Morgan Stanley pointed out that Fit Hon Teng has a good position within the Hon Hai group and is expected to benefit from the AI component trend. Morgan Stanley initiated Fit Hon Teng with an "outperform the market" rating and a target price of 8 Hong Kong dollars, equivalent to a price-to-earnings ratio of 22 times and 17 times for the fiscal years 2026 and 2027. Morgan Stanley expects Fit Hon Teng's AI revenue to significantly increase in the next 2 to 3 years, believing that this positive development has not been fully reflected in the current stock price, and views Fit Hon Teng as a key driver of AI infrastructure.