On August 31, HUAQIN (03296.HK) rose 3.17% in regular trading, trading at HKD 77.7/share, with turnover of HKD 45.31 million. The rally was driven by a combination of robust first-half earnings and upbeat forward guidance highlighted during the company's recent mid-year results briefing.

According to the disclosure, HUAQIN reported H1 revenue of RMB 93.719 billion, up 11.65% year-over-year, while net profit attributable to shareholders surged 58.8% to RMB 3.0 billion. Q2 standalone net profit jumped 85.2% year-over-year. H1 gross margin stood at 8.1%, with gross profit growth reaching 18% and annualized ROE at 21%.

More notably, the company confirmed that its super-node products will begin mass shipment in Q3, with second-half revenue from this segment expected to exceed RMB 10 billion. Data center business is projected to achieve 50% full-year growth, surpassing RMB 60 billion in scale, while switch revenue is set to double to approximately RMB 6 billion. Management guided full-year revenue to exceed RMB 200 billion, with non-GAAP profit growth of around 20%, and indicated higher growth potential heading into the next fiscal year.

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