HK Stock Market Move | Huaqin Co., Ltd. (03296) rose by more than 8%. It is expected that the annual revenue from single product sales will exceed 10 billion yuan.

Huaqin Co., Ltd. (03296) surged more than 8%, as of the press release, it increased by 8.02% to HK$74.75, with a trading volume of HK$507.436 million. On the news front, Huaqin Co., Ltd. announced in an investor relations activities record announcement that the company's super node products have started small-scale shipments in the second quarter, and will enter a large-scale delivery phase in the third quarter. It is expected that the annual revenue of super node single products alone will exceed 10 billion yuan, and the growth will remain high in the next two years. The gross profit margin of super node products is superior to that of AI servers, which is expected to drive a steady increase in the overall gross profit margin of the data business. In terms of data center business, the annual revenue is expected to increase by 50% year-on-year, and the growth rate in the second half of the year will significantly accelerate. The switch business is expected to generate approximately 6 billion yuan in revenue this year, achieving a doubling of growth, and will also maintain high-speed growth in the next two years. In the first half of the year, the automotive electronics business obtained designated projects from Geely and Chery, and established a joint venture company with Toyota Textile. It is expected to achieve a doubling of growth this year, with an income scale ranging from 2 to 3 billion yuan. In the consumer electronics sector, smart wearable products are expected to grow by more than 30% in the whole year, and the shipment volume of laptops will achieve a significant increase.