On June 2, FIT Hon Teng fell 3.76% in regular trading, trading at HKD 8.73 per share, with trading volume of approximately HKD 163 million. The decline follows a sharp rally the previous session when the stock surged over 5%.

On the news front, the pullback is primarily attributed to profit-taking pressure amid a stretched valuation. The company currently trades at approximately 55 times earnings, far exceeding the Electronic Components industry average. While the stock had rallied strongly after parent company Foxconn was reported to have delivered full-optical CPO switch cabinets to NVIDIA ahead of schedule — with shipment targets raised from 10,000 to 50,000 units — the market remains divided on whether earnings delivery can match the elevated valuation given that net profit margins have yet to achieve a significant breakthrough. Short-term profit-taking has resurfaced, causing the stock to retrace part of its recent gains.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)