TIME INTERCON (01729) surged over 7% following its earnings announcement, with intraday highs reaching HK$14.2, setting a new high for the year. The stock has accumulated gains of over 2.46 times in the past three months. As of press time, the stock was up 6.03% to HK$14.07, with trading volume of HK$73.81 million.
On the news front, TIME INTERCON released its interim results for 2025 on August 28, reporting revenue of HK$4.854 billion, up 82.1% year-over-year. Profit attributable to owners reached HK$314 million, representing a 47.6% increase compared to the same period last year. Basic earnings per share stood at HK$0.161. The announcement noted that the increase in revenue was primarily attributed to higher data center revenues in the server and wire harness segments, driven by the AI boom.
Notably, TIME INTERCON announced that on August 28, 2025 (after trading hours), the company, the vendor (Jin's Investment Limited), and the guarantor entered into a sale and purchase agreement. Under this agreement, the company conditionally agreed to acquire from the vendor the sale shares representing the entire issued share capital of Tak Chun Cheong Investment Limited (the target company) for a consideration of HK$460 million, subject to the terms and conditions of the sale and purchase agreement.
The consideration for the sale shares will be settled through HK$130 million in cash and HK$330 million through the allotment and issuance of consideration shares to the vendor by the company under the general mandate.
The acquisition will enable the group to diversify its dependence on critical copper wire supply from a single country. The target group's production facilities located in countries surrounding China will also significantly diversify supply chain disruption risks. As copper wire is a fundamental raw material for the group's cable products, supply disruptions could lead to production stoppages, delayed order deliveries, and significant financial losses. By securing cross-border copper supply, the group will establish a robust and resilient supply chain, ensure business continuity, and effectively diversify geographical and political risks.