HK Stock Market Move | Fibocom Wireless Inc. (00638) falls more than 5% as the company has partnered with Luobo Intelligence to promote AI entertainment products.

Fibocom Wireless Inc. (00638) fell more than 5%, but the cumulative increase for the week still exceeds 8%. As of the time of writing, it fell by 5.14%, to 17.9 Hong Kong dollars, with a turnover of 92.79 million Hong Kong dollars. On the news front, at 10:08 am on November 28th, Huawei's first AI emotional companion toy "Smart Huanhuan" was officially launched on the official channel, with three color products priced at 399 yuan selling out instantly. It is reported that the "Smart Huanhuan" AI toy was jointly designed and developed by Lobop Intelligence and Huawei. Fibocom Wireless Inc. has reached a strategic cooperation agreement with Lobop Intelligence to jointly promote the global deployment of the AI trend product Fuzozo. Fibocom Wireless Inc.'s third quarter report shows that the company's operating income for the first three quarters was 5.366 billion yuan, a year-on-year decrease of 13.69%; net profit attributable to the parent company was 316 million yuan, a year-on-year decrease of 51.50%. China Securities Co., Ltd. pointed out that comparable revenue increased by 7% year-on-year, but the decline in gross profit margin affected the profit performance; the company's terminal AI, Siasun Robot & Automation and other solution businesses continue to advance, with a promising outlook.