On August 28, PHANCY rose 6.42% in regular trading, trading at HK$27.8/share, with turnover of HK$46.24 million. The stock rebounded sharply after consecutive declines following its interim results release on August 20.

On the news front, CICC recently published a research note maintaining its \"Outperform\" rating on PHANCY with a target price of HK$40, citing that the company's AI Platform business had accumulated backlog orders of RMB 7 billion as of end-H1, representing a 400% year-over-year increase. CICC noted that ample room remains for earnings delivery. The stock had been under short-term profit-taking pressure since the mid-year results disclosure, and the current rebound follows an oversold condition.

For context, the company reported H1 revenue of RMB 3.765 billion, up 43.4% year-over-year, with net profit attributable to owners reaching RMB 119 million, achieving a turnaround from losses. Its API business revenue surged 860.8% to RMB 464 million.

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