On July 10, Lightelligence-P rose 5.76% in regular trading, trading at 369.4 HKD/share, with turnover of approximately 44.16 million HKD. The stock extended its rebound over the past two days, continuing to digest a prior bullish catalyst.

On the news front, Haitong International initiated coverage on Lightelligence-P on July 8 with an Outperform rating and a target price of 668 HKD, implying a target market capitalization of approximately 54.7 billion RMB. The firm highlighted the company as the only large-scale commercialized independent Scale-up optical interconnect solution provider in China, citing clear first-mover advantages and strong customer stickiness. The valuation employed a top-down total market cap approach, referencing seven A-share optical module/CPO representative companies with a 2% penetration rate assumption. Haitong also noted frequent near-term catalysts including WAIC in July, earnings in August, and potential Stock Connect inclusion in September.

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