Shares of Pangaea Connect surged more than 65% during the afternoon session, extending a rally that has seen the stock gain over 250% in the past two weeks of trading.

As of the latest update, the stock was up 50.82%, trading at HK$1.84 with a turnover of HK$85.44 million.

The recent surge follows a company announcement on May 28, in which the board noted a recent increase in the trading price and volume of the company's shares since around mid-May 2026.

The company stated that, as of the announcement date, its business operations have remained normal and are proceeding as usual, with core business progressing smoothly and no significant adverse changes in its business operations or financial position.

Pangaea Connect anticipates its net profit for the year ending March 31, 2026, will increase by 30% to 50% compared to the approximately HK$30.5 million profit recorded for the year ending March 31, 2025.

The expected growth is primarily attributed to an increase in revenue, driven mainly by rapidly growing demand for computing and bandwidth from major cloud operators for computing, storage, and network systems, fueled by the artificial intelligence market, which in turn has led to increased demand for AI-related products.