HK Stock Market Move | TOPNC (07688) rises over 5%; new orders signed in the first half doubled year-on-year; inclusion in Stock Connect is expected to bring improved liquidity.

TOPNC (07688) rose over 5%, up 5.59% as of press time, at HK$19.64, with a turnover of HK$35.6387 million. On the news front, starting September 7, TOPNC will be included in the Stock Connect eligible list. Inclusion in Stock Connect will further expand the company's investor base, enhance the trading liquidity of its H shares, and further optimize its shareholder structure. It is worth noting that, according to its previous disclosure, the company's newly signed contract value in the first half of this year was approximately RMB 470 million, a sharp year-on-year increase of 115.6%. Among these, aerospace-related projects contributed approximately RMB 404 million, and this order scale has already exceeded the total newly signed contract value in the aerospace sector for the full year of 2025. Capital Securities (Hong Kong) previously pointed out that the company takes aerospace intelligent manufacturing equipment as its foundation, with deep technical barriers, and its average product prices and gross margins are higher than those of peers; general-purpose five-axis and carbon fiber machine tools are still in the cultivation stage and are expected to become a new growth curve. The bank is optimistic about the company's development in the domestic high-end industrial mother machine sector.