ABLE DIGITAL (02687) surged nearly 5% again, hitting a new all-time high of HK$164.5 and reaching a total market capitalization of nearly HK$11 billion. At the time of writing, the stock was up 4.58% at HK$164.4, with a turnover of HK$27.62 million.

Public information shows that ABLE DIGITAL is a provider of digital teaching solutions for higher education institutions. Founded in 2008, the company launched its brand "Smart Tree" in 2013. According to Frost & Sullivan, ABLE DIGITAL ranked second in China's higher education digital teaching market by revenue in 2024, with a 4.0% market share. Additionally, it ranked first in China's digital teaching content production market for higher education, holding a 7.3% share.

The stock's trading data over its first two days of listing has been described as a classic case of "capital-driven" momentum. Within just two trading sessions, the stock price fluctuated by as much as 83.73%, yet closed higher each day, accumulating a 75.36% gain. This "high volatility, one-way rally" pattern differs significantly from the typical post-IPO scenario of intense tug-of-war between bulls and bears. It reflects strong control and determination by dominant funds to rapidly elevate the stock price and market capitalization to a new level.

The market widely interprets this price movement as a strategic push to meet the inclusion criteria for the Stock Connect program, a view supported by clear regulatory and strategic logic.