On September 1, PHANCY rose 5.14% in regular trading, trading at HK$29.2 per share, with turnover of HK$53.48 million. The stock continued its rebound after consecutive weakness following the August 20 interim results disclosure.

On the news front, PHANCY recently announced a partnership with Huawei to adopt the Ascend 950 as its core computing chip, driving AI large model deployment. The company's computing-related capital expenditure reached RMB 2.237 billion in the first half. Meanwhile, CICC maintained its Outperform rating with a target price of HK$40, citing AI Platform in-hand orders of RMB 7 billion as of mid-year, up 400% year-over-year.

The company's first-half results showed revenue of RMB 3.765 billion, up 43.4% year-over-year, with net profit attributable to owners of RMB 119 million, marking a milestone turnaround from loss. API business revenue surged approximately 860.8% to RMB 464 million, emerging as a key growth driver. The stock had been under selling pressure post-earnings, and the combination of fresh catalysts and broker endorsement has supported the current technical rebound.

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