ILUVATAR COREX (09903) saw its shares rise more than 8%. As of writing, the stock was up 8.62% to HKD 529, with a turnover of HKD 412 million. On the news front, the quarterly review results for the Hang Seng Index Series were announced on May 22. Among the changes, ILUVATAR COREX was included as a constituent of the Hang Seng Composite Index, with the adjustment set to take effect from June 8, 2026. Analysts at Haitong International believe that as a pioneer in China's dual-line GPU sector, ILUVATAR COREX's DeepSpark ecosystem demonstrates core competitiveness, and its current share price represents a significant discount to its potential valuation. The company's expected inclusion in the Southbound Stock Connect program on June 8 is seen as a near-term re-rating catalyst. As a scarce Hong Kong-listed play on domestic GPUs, ILUVATAR COREX allows investors to gain exposure to China's AI computing sector without facing the premium typically associated with A-shares. The stock's current price implies a forward price-to-sales ratio of approximately 20x for next year, which is below the average of around 56x for its A-share peers (such as Cambricon and Moore Threads).