HK Stock Market Move | PANGAEA CONNECT (01473) rose more than 65% in the afternoon, with the stock price more than doubled in the past two weeks. The expected annual net profit is expected to increase by 30% - 50% compared to the previous year.

PANGAEA CONNECT (01473) surged by more than 65% in the afternoon, with the stock price accumulating over 2.5 times in the past two weeks. As of the release of this report, it was up by 50.82%, at 1.84 Hong Kong dollars, with a trading volume of 85.4399 million Hong Kong dollars. On the news front, on May 28th, PANGAEA CONNECT announced that the board of directors noted a recent increase in trading prices and volumes of the company's shares since mid-May 2026. As of the date of this announcement, the group's business operations remain normal and continuing as usual, with smooth progress in its core business, and no significant adverse changes in the group's business operations and financial condition. Compared to a net profit of approximately 30.5 million Hong Kong dollars for the year ended March 31, 2025, the group expects a growth of 30% to 50% in net profit for the year ending March 31, 2026. This expected growth is mainly attributed to an increase in revenue, driven by the rapid growth in demand for computing, storage, and network systems by major cloud operators in the artificial intelligence market, leading to an increase in demand for AI products.