Group 1 - The core viewpoint of the report is that Huiju Technology (01729) is recommended as a strong investment due to its strategic positioning in high-growth sectors such as MPO optical communication and AI servers, alongside its successful acquisition of Leoni's cable business, which is expected to elevate its status in the automotive cable supply market [1][2][3] - The company anticipates a net profit growth of 60% to 70% for 2025, translating to approximately HKD 720 million to HKD 770 million, driven by increased sales orders in the data center and server segments, as well as the integration of Leoni's business [1][2] - The global AI computing power construction is expected to remain robust in 2026, benefiting the company's MPO and server assembly businesses, with significant order growth anticipated due to the expansion of production capacity and market outreach in North America and Europe [2][3] Group 2 - The successful acquisition of a 49% stake in Leoni's cable solutions business and the completion of the acquisition of Dejin Chang are expected to enhance the company's capacity layout and supply security, furthering vertical integration [3] - The automotive segment is projected to see profit improvements due to the integration of Leoni, supported by the automation and intelligence capabilities from the parent company, Luxshare [3] - The medical equipment business is expected to benefit from the aging population and increased health awareness, with investments in wearable medical technology opening up new growth opportunities [3]

Core Viewpoint - The report from China Merchants Securities maintains a "strong buy" rating for Huiju Technology (01729), highlighting its significant role within the Luxshare ecosystem and its potential for high-quality growth in various sectors, including optical communication, AI servers, automotive, and medical equipment [1] Recent Events - Huiju Technology is expected to announce a profit forecast on January 16, 2026, predicting a net profit growth of 60% to 70% year-on-year for 2025, translating to approximately HKD 720 million to HKD 770 million [2] Revenue Growth Drivers - The anticipated revenue growth is primarily driven by increased sales orders in the data center and server segments, with significant contributions from domestic server demand from companies like Alibaba and ByteDance, as well as positive integration effects from the acquisition of Leoni [2] Future Outlook - For 2026, the global AI computing power construction is expected to remain robust, benefiting Huiju's MPO and server assembly businesses. The company is well-positioned with its MPO products aligning with trends in multi-core and high-density technology, and it is expanding its production capacity in North America and Europe [3] Strategic Acquisitions - The successful acquisition of a 49% stake in Leoni's cable solutions business and the completion of the Dejinchang acquisition are expected to enhance Huiju's capacity and supply security. The integration of Leoni is anticipated to exceed expectations, with improvements in profit levels driven by automation and new customer introductions [4] Long-term Growth Potential - The medical equipment segment is projected to benefit from increasing demand due to aging populations and heightened health awareness, with investments in wearable medical technology opening new growth avenues [4]

Core Viewpoint - The stock price of Huiju Technology has strengthened due to positive performance expectations for the fiscal year ending December 31, 2025, with a projected net profit increase of approximately 60% to 70% compared to 2024 [2] Group 1: Financial Performance - Huiju Technology anticipates a net profit growth of about 60% to 70% for the fiscal year ending December 31, 2025, based on unaudited consolidated management accounts and available information [2] - The expected growth is attributed to two main factors: an increase in sales orders from the data center and server segment within the wire component division, and an increase in the net earnings from associated companies [2] Group 2: Stock Market Reaction - Following the positive performance announcement, Huiju Technology's stock price rose by 8.89% to HKD 16.05 on January 15, with a trading volume of HKD 212 million [2] - On January 16, the company's stock continued to rise, with an intraday maximum increase of over 5% [2] Group 3: Company Overview - Huiju Technology Limited is primarily engaged in the production and sale of customized wire components, including copper wire components and fiber optic wire components [2] - The main end-users of copper wire components include telecommunications network operators, data centers, broadcasting and media network operators, and medical equipment manufacturers [2] - Fiber optic wire components are primarily used by telecommunications network operators and data centers [2]

Group 1 - The core viewpoint of the article is that 汇聚科技 (01729) has announced a positive earnings forecast, expecting a 60% to 70% increase in net profit for the fiscal year 2025 compared to the previous year [1] - The increase in revenue is primarily driven by a rise in sales orders in the data center and server segments within the wire components division [1] - The company also anticipates an increase in net earnings from its joint ventures during the year [1] Group 2 - 招商证券 has released a report highlighting that the company is a crucial part of the立讯体系, with strong positioning in the MPO optical communication and AI server sectors, indicating potential for high-quality growth [1] - The automotive business is expected to benefit from the successful acquisition of 莱尼电缆, positioning the company to rapidly ascend to a leading global automotive cable supplier [1] - The medical equipment segment is described as having long-term growth potential, with active investments in cutting-edge sectors, suggesting a promising outlook for mid to long-term growth opportunities [1]

Group 1 - The core viewpoint of the article is that 汇聚科技 (01729) has announced a positive profit forecast, expecting a 60% to 70% increase in net profit for the fiscal year 2025 compared to the previous year [1] - The increase in revenue is primarily driven by a rise in sales orders from the data center and server segments within the wire components division [1] - The company also anticipates an increase in net earnings from its joint ventures during the year [1] Group 2 - 招商证券 has released a report highlighting that the company is a crucial part of the立讯体系, with strong positioning in the MPO optical communication and AI server sectors, indicating potential for high-quality growth [1] - The automotive business is expected to benefit from the successful acquisition of 莱尼电缆, positioning the company to rapidly ascend to a leading global automotive cable supplier [1] - The medical equipment business is described as having long-term growth potential, with active investments in cutting-edge sectors, suggesting a promising outlook for mid to long-term growth opportunities [1]

Group 1 - The stock price of Changfei Optical Fiber and Cable (06869.HK) increased by 3.77% [2] - The stock price of Huiju Technology (01729.HK) rose by 1.68% [2]

Major Events - Giant Bio (02367) received the Medical Device Registration Certificate from the National Medical Products Administration for its recombinant type I α1 collagen and sodium hyaluronate composite solution [1] - Jitu Express-W (01519) plans to subscribe for 226 million H shares of SF Holding and issue 822 million Class B shares to SF Holding [1] - Zijin Mining (02899) signed a cooperation and equity transfer agreement for the Shapingou Molybdenum Mine project [1] - Jiangxi Copper (00358) subsidiary signed an Investment Option Agreement with First Quantum for exploration cooperation in Kazakhstan's mining projects [1] - Derin Holdings (01709) received conditional approval from the CSRC for Derin Securities to provide virtual asset consulting services [1] - GAC Group (02238) subsidiary GAC Trumpchi received 100 million yuan in funding for industrial transformation and development [1] - Juteng International (03336) suspected of a cyber attack and has initiated a comprehensive investigation [1] Operating Performance - China Southern Airlines (01055) increased passenger capacity input by 11.89% year-on-year in December [1] - Air China (00753) reported a 10% year-on-year increase in passenger turnover in December [1] - China Eastern Airlines (00670) saw a 7.61% year-on-year increase in passenger turnover in December [1] - China Metallurgical Group (01618) new contract amount for 2025 is 1,113.6 billion yuan, a decrease of 10.8% year-on-year [1] - ZhongAn Online (06060) projected total original insurance premium income of approximately 35.643 billion yuan for 2025, an increase of 6.66% year-on-year [1] - China General Nuclear Power Corporation (01164) produced a total of 702.5 tons of natural uranium in the fourth quarter [1] - Jiuxing Holdings (01836) reported a 0.8% year-on-year increase in comprehensive income to 388.6 million USD in the fourth quarter [1] - Luoyang Molybdenum (03993) issued a profit warning, expecting annual net profit attributable to shareholders to be between 20 billion and 20.8 billion yuan, an increase of 47.80% to 53.71% year-on-year [1] - Chongqing Iron and Steel (01053) issued a profit warning, expecting a net loss of 2.5 billion to 2.8 billion yuan for 2025 [1] - Huiju Technology (01729) issued a profit warning, expecting annual net profit to increase by approximately 60% to 70% year-on-year [1]

Group 1 - The company expects its net profit for the year ending December 31, 2025, to increase by approximately 60% to 70% compared to the net profit reported for the year ending December 31, 2024 [1] - The anticipated growth is primarily driven by an increase in sales orders within the wire components division, particularly from data centers and server segments [1] - Additionally, the company's share of profits from associated companies is expected to contribute positively to this year's performance [1]

集团认为，有关增长乃主要由于(i)电线组件分部内数据中心及服务器分部的销售订单增加带动集团收入 增加；及(ii)本年度分占联营公司业绩净额增加。 格隆汇1月15日丨汇聚科技(01729.HK)公告，预期集团截至2025年12月31日止年度纯利将较其2024年度 报告所披露集团截至2024年12月31日止年度("上一年度")的纯利录得约60%至70%的增长。 ...

本公司仍在落實本集團本年度的年度業績。本公告所載資料僅基於董事會參考其目前可得 資料及本集團截至二零二五年十二月三十一日止年度的未經審核綜合管理賬目作出的初步 審閱及評估，有關資料未經本公司核數師審閱或審核，亦未經本公司審核委員會審閱，並 有待落實及作出進一步調整。因此，本集團本年度的實際業績可能有別於本公告所披露的 資料。本集團財務表現的詳情將於本集團本年度的年度業績公告披露，該公告預期將於二 零二六年三月底前刊發。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 1729 正面盈利預告 本公告乃由匯聚科技有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董事」） 會（「董事會」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條及香 港法例第571章證券及期貨條例第XIVA部項下內幕消息條文（定義見上市規則）而作出。 董事會謹此知會本公司股東（「股東」）及潛在投資者，根據對本集團截至二零二五年十二月 三十 ...