HK Stock Market Move | CONANT OPTICAL (02276) fell over 4% in early trading, with Macquarie downgrading its earnings per share forecast to reflect a decrease in AI glasses revenue forecast and share capital adjustment.

CONANT OPTICAL (02276) fell more than 4% in early trading, down 4.02% as of the time of publication, to 49 Hong Kong dollars, with a turnover of 495.74 million Hong Kong dollars. On the news front, CONANT OPTICAL recently announced that it has signed a legally binding memorandum of cooperation with a global leading technology company that dominates the industry in the field of smart glasses. They have made specific agreements on the long-term production cooperation of a key smart glasses project. The company stated that, combined with several domestic major customers' AR smart glasses projects entering the mass production stage, the company's technological capabilities in the field of smart glasses, especially in AR smart glasses visual solutions, have been recognized by technology companies and consumer electronics companies at home and abroad. It is worth noting that CONANT OPTICAL announced at the end of January this year that it plans to issue 27 million shares, with net proceeds of approximately 1.4 billion Hong Kong dollars. After the placement is completed, the total share capital is expected to increase from 480 million shares to 507 million shares. Macquarie released a research report stating that they have lowered CONANT OPTICAL's earnings forecasts for 2026 to 2027 by 20% and 8%, reflecting a downward adjustment in AI glasses business revenue forecasts and share count adjustments. However, they maintain an "outperform" rating with a target price lowered from 95.6 Hong Kong dollars to 88 Hong Kong dollars.