On August 5, HUAQIN rose 3.02% in regular trading, trading at HK$69.8/share, with turnover of HK$9.00 million.

On the news front, the company previously disclosed its H1 performance preview, projecting revenue of RMB 93.0-95.0 billion, representing year-over-year growth of 10.8%-13.2%, and attributable net profit of RMB 2.9-3.05 billion, up 53.5%-61.5% year-over-year, significantly exceeding market expectations. JPMorgan noted that as cabinet-level AI projects enter mass production, the data center business is set to become the primary earnings catalyst from H2 onward. Additionally, the company's super node products commenced small-batch shipments in Q2 and are expected to enter large-scale delivery from Q3, with full-year super node revenue alone projected to surpass RMB 10 billion.

Supporting sentiment, the company has been actively executing its A-share buyback program, repurchasing 263,400 shares on August 4 at a cost of approximately RMB 20 million, while the founder previously completed an 180,000-share H-share stake increase worth HK$12.13 million.

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