HK Stock Market Move | Hongteng Precision (06088) continues to rise by over 6%. In April, Hon Hai's revenue hit a historical high for the same period, driven by the strong momentum of its AI cloud products.

Hongteng Precision (06088) has risen by more than 6% again, as of the time of publication, it has increased by 5.85%, reaching 8.51 Hong Kong dollars, with a turnover of 1.82 billion Hong Kong dollars. On the news front, on May 5th, Nvidia's major partner Foxconn Precision announced that its revenue in April increased by 29.7%, highlighting the continued strong spending on key hardware aspects of artificial intelligence. Foxconn's sales in April reached 832.1 billion New Taiwan dollars (approximately 26.3 billion US dollars), setting a historical high record for the same period. Analysts on average expect Foxconn's second-quarter revenue to increase by 30.4%. In the revenue structure for April, the categories of "components and others" and "cloud networks" performed the best. Foxconn attributed this to "strong momentum in AI cloud products," which recorded significant growth month-on-month and year-on-year. In its statement on Tuesday, Foxconn stated that the second quarter is the traditional off-season for the ICT industry, and its main products are currently in a period of "transition between old and new models." However, the company also made a key judgment - "Only AI cabinets will continue to show a growth trend," and based on the current visibility, it is estimated that the second quarter will show a quarter-on-quarter and year-on-year increase. Amid the fluctuations in global political and economic situations, this judgment has become a key window for observing the real demand strength of the AI supply chain externally.