HK Stock Market Move | Cig Shanghai (06166) fell more than 10% during trading today after briefly rising over 9% at the end of yesterday. Today, cornerstone investors' lock-up period expired.

Cig Shanghai (06166) fell more than 10% during the trading day. The stock had risen over 9% sharply in the last session, closing at 121.3 Hong Kong dollars today, down 9.02%, with a turnover of 1.569 billion Hong Kong dollars. On the news front, on April 27th, Cig Shanghai announced that in the first quarter of 2026, the operating income was 1.287 billion yuan, an increase of 43.98% year-on-year; the net profit attributable to shareholders of the listed company was 118 million yuan, an increase of 276.44% year-on-year. During the reporting period, the scale of the high-speed optical module business increased. The growth in operating income was mainly due to an increase in shipments of core business products. The company's net profit for Q1 2026 was 118 million yuan, compared to 0.4 million yuan in Q4 2025, resulting in a quarter-on-quarter net profit growth of 2722%. It is worth noting that on April 28th, Cig Shanghai's Hong Kong listing reached its 6-month milestone, welcoming the lifting of restrictions for cornerstone investors. The company had previously announced that more than ten cornerstone investors, including Barling, had their selling restrictions lifted on April 27th, accounting for about half of its issued shares in Hong Kong.