Changes in Hong Kong stocks | Changfei Optical Fiber & Cable (06869) raised nearly 4% of the company's net share allotment of more than HK$2.2 billion to develop overseas business

The Zhitong Finance App learned that Changfei Optical Fiber Cable (06869) closed up more than 10% yesterday and opened nearly 4% higher today. As of press release, it rose 3.8% to HK$43.68, with a turnover of HK$16.4892 million.

According to the news, Changfei Optical Fiber Cable announced yesterday that it plans to place a total of 70 million shares at HK$32.26 per share, a discount of 14.93% from the closing price on December 9. The net proceeds from the placement amount to about HK$2.23 billion, of which about 80% will be used to develop overseas business, and the balance will be used as working capital.

Changjiang Securities previously released a research report saying that global demand for AI computing power is bursting, cloud business financial reports are impressive, cloud orders are rapidly accumulating, capital expenditure has been raised again, investment has increased significantly; and delivery of computing power cards is speeding up. Demand for data center connectivity continues to rise, optical chip production capacity is at full capacity, high-speed optical modules are in short supply, and production expansion is being implemented at an accelerated pace. Expansion of supporting equipment such as optical fiber optic cables, high-speed cables and liquid cooling. The main line of AI and computing power is rising strongly.