HK Stock Market Move | YOFC (06869) opens nearly 15% higher, Corning wins large orders for Meta fiber optics, company benefits from industry recovery.

YOFC(06869) opens up nearly 15%, up 14.97% as of press time, at HK$74.9, with a turnover of HK$663.614 million. On the news front, Corning's stock price surged over 15% to a historic high overnight. It was reported that to keep up with the AI trend and promote the construction of large data centers, Meta has promised to pay Corning up to $6 billion by 2030 to purchase the fiber optic cables needed for AI data centers. In order to meet the demands of Meta, as well as Google, Microsoft, and other major clients, Corning is expanding its factories. Once completed, it will become the world's largest fiber optic cable factory, which is also part of the industry's multi-trillion dollar expansion plan. Mike Ardai, head of Corning's fiber optics business, also emphasized that meeting demand is the main challenge the company is currently facing, with just Meta's data center in Louisiana requiring 8 million miles of fiber optic cables. A research report from FIRST SHANGHAI pointed out that Yangtze Optical Fibre And Cable Joint Stock is the leader in the global fiber optic cable industry, with a consistent market share in preform rods, fibers, and cables. The company utilizes the "PCVD+VAD+OVD" three main preform rod preparation processes, with the highest level of integration between rod and cable, and strong cost control capabilities. The company's performance in the first half of 2025 is under pressure, but the downward trend of the telecom market for fiber optic cables is nearing its end. The company will fully benefit from the domestic cycle bottoming out, overseas expansion hedging, and AI computational power driving demand upgrade, entering a period of performance growth.