Changes in Hong Kong stocks | Huaqin Technology (03296) rose more than 8% and is expected to exceed 10 billion yuan in revenue for the whole year

The Zhitong Finance App learned that Huaqin Technology (03296) rose more than 8%. As of press release, it had risen 8.02% to HK$74.75, with a turnover of HK$507.436 million.

According to the news, Huaqin Technology released an investor relations activity record announcement showing that the company's supernode products began small-batch shipments in the second quarter and will enter the large-scale delivery stage starting in the third quarter. It is estimated that the revenue of individual Supernode products alone will exceed 10 billion yuan throughout the year, and will maintain rapid growth for the next two years. The gross margin level of supernode products is superior to AI servers, which is expected to drive a steady increase in the overall gross margin of the data business. In terms of data center business, annual revenue is expected to increase 50% year over year, and the growth rate will accelerate significantly in the second half of the year.

The switching business is expected to have a revenue scale of about 6 billion yuan this year, doubling, and will maintain rapid growth for the next two years. The automotive electronics business was targeted by Geely and Chery in the first half of the year and completed the establishment of a joint venture with Toyota Textiles. It is expected to double this year, with revenue reaching between 2 billion yuan and 3 billion yuan. In the consumer electronics sector, smart wearable products are expected to grow by more than 30% throughout the year, and the laptop business has achieved a significant increase in shipments.