HK Stock Market Move | PANGAEA CONNECT (01473) soared over 50% in the afternoon, with the total value of all sales contracts exceeding 1 billion US dollars.
China UnionPay surged more than 50% in the afternoon, reaching a 45.24% increase to HK$1.83 at the time of writing, with a trading volume of HK$30,357,800.
PANGAEA CONNECT (01473) soared more than 50% in the afternoon, rising 45.24% to 1.83 Hong Kong dollars with a turnover of 30.3578 million Hong Kong dollars as of the time of the announcement.
On the news front, PANGAEA CONNECT announced at noon today that due to the rapid growth of the global AI market and strong demand for advanced optical connectivity solutions, the group has recently secured a large number of sales contracts, bringing the total value of all sales contracts on hand by the announcement date to over 1 billion US dollars. Most of these sales orders are from global manufacturers, involving mainly 200Gb/s Indium Phosphide (InP) photodiodes. These are used for 800G/1.6T transceivers in AI data centers and next-generation AI infrastructure.
The board believes that these sales contracts will strengthen the group's position in the AI data center ecosystem and ensure high growth revenue sources through the supply chain of global technology leaders, driving sustained commercial momentum until 2027 and bringing long-term benefits. Looking ahead, the group will continue to focus on consolidating its strategic position in high-growth, AI-related areas, particularly high-performance AI data infrastructure, advanced semiconductor laser processing, and early-stage WiFi 8 deployment.
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